Majors consolidated against the federal currency in today's Asian session, after they declined yesterday. Today, we may see further declines as investors still targeting the low yielding currencies, selling the euro and the pound, which is giving a chance for the dollar to be the biggest winner. The USDIX that tracks the dollar's strength against a basket of major currencies recorded a high of 80.63 and a low of 90.52, and it is currently trading around 80.60.
The euro dollar pair is consolidating between 1.3625 levels and 1.3575 levels recording a high of 1.3608 and a low of 1.3586, while it is currently trading around 1.3600. The pair broke the 1.3655 levels that makes us expect more declines during this week especially with momentum indicators on the daily scale supporting the downside. However, today's trading range should be between 1.3655 levels and 1.3485 levels.
Regarding the pound dollar pair, it fell slightly recording a low of 1.4954 and a high of 1.5013, having the royal currency trading around 1.4965. The pair is in an attempt to breach the 1.4970 levels then target the 1.4900 levels, and the pair is heading towards the oversold area according to the daily stochastic oscillator. The pair is having a support at 1.4900 along with a resistance at 1.5095.
Finally, the dollar yen pair is trading between a high of 90.07 and a low of 89.94, while the pair is currently trading around 90.00. Today's support could be found at 89.35, while the resistance could be found at 90.60, and the pair is trading in the overbought area according to momentum indicators on the daily charts.