Majors dropped against the federal currency yesterday, after disappointing fundamentals showed consumer confidence in the U.S fell to 46.0, boosting demand for the dollar as a refuge. A correctional move to the upside took place in today's Asian session, and the USDIX declined recording a low of 80.72 and a high of 80.93, while it is currently trading around 80.75.
The euro dollar pair recorded a high of 1.3550 and a low of 1.3502, having the union currency trading around 1.3545. Yesterday the pair fell to the 1.3500 levels and today it is having a resistance at 1.3655 along with a support at 1.3485, while the pair is trading in an oversold area according to the four hour momentum indicators. The German GDP final reading is on queue today and it may not affect the pair especially with forecasts saying it won't show changes from the preliminary reading.
The pound dollar pair consolidated in the Asian session, and it is expected to resume the downside in the European and U.S sessions. The pair recorded a high of 1.5460 and a low of 1.5420, and if the pair fell below the 1.5300 levels it might drop to the 1.5260.
The dollar yen pair recorded a low of 90.08 and a high of 90.29, while the pair is currently trading around 90.25. The pair is anticipated to extend yesterday's drop according to the daily stochastic oscillator, while it may find a support at 89.55 along with a resistance at 91.40. Fundamentals concerning the housing market in the U.S will be released today that may move the market.