By CountingPips.com
The U.S. dollar has been mostly stronger in forex trading against the other major currencies as there has been a pullback in risk appetite today. The dollar has advanced today versus the euro, British pound, Swiss franc, Canadian dollar, New Zealand dollar and the Australian dollar while falling against the Japanese yen, according to currency data by Oanda today.
The dollar had fallen for the past two days against the euro, pound, aussie, loonie and franc before today’s turnaround. 
The euro had risen versus the dollar to the 1.3692 exchange rate on Monday and to the 1.3678 exchange rate yesterday as concerns on the Greece bailout had faded after more detailed promises of European and IMF aid were put forth over the weekend. Today in Europe, there has been reports about confusion on how the bailout money will be dispersed and whether countries may need legislation to loan out the money.
In U.S. news today, weekly jobless claims rose more than expected in the week ending April 10th. According to the U.S. Department of Labor, initial jobless claims grew by 24,000 workers to a total of 484,000 workers from the week before and surpassed forecasts expecting a decline of approximately 20,000 workers. The 4-week moving average of unemployed workers declined by 7,500 from the prior week to a total of 457,750 while continuing claims rose for the week ending April 3rd by 73,000 workers.
U.S. manufacturing has continued to increase its pace of activity as the Philadelphia Fed Index rose for a third straight month and the Empire State manufacturing survey increased more than expected for April, according to reports released by the Federal Reserves of Philadelphia and New York, respectively.
The U.S. stock markets finished up moderately today with the Dow Jones rising by approximately 21 points, the Nasdaq increasing over 10 points and the S&P 500 up by 1 point. Oil edged lower to $85.47 while gold has gained by $0.70 to trade at the $1,159.70 per ounce level.
Tomorrow’s data releases to look out for are Canada’s manufacturing sales data, US housing starts & building permits and the University of Michigan Confidence survey.
EUR/USD 1-Hour Chart – The Euro breaking below its short-term supportive trendline versus the U.S. Dollar today in forex trading. The EUR/USD had gained for two straight days and was using the 50-hour moving average as support before turning south today, falling into oversold territory on the RSI and turning negative on the MACD. The pair found support today at the 1.3520 area and at the 38.2 fibonacci retracement level(from the March 26th low at 1.3267 to April 12th high 1.3691) and looks poised to test the 1.3600 level.
