The dollar started today's session off steady at the same levels, while yesterday the dollar declined against majors after fundamentals about the US economy showed inclining initial claims and a lack of fundamentals about the euro zone, making the market moving according to technical basis.
The euro dollar pair decline on the four hours chart, reaching a low of 1.3883 and a high of 1.3920. The pair reached the support level of 1.3895 but it could not move further past the 1.3883 level which is the lowest to start rebounding again having a resistance at 1.3970 and if it managed to move beyond it the pair will be having a next resistance at 1.4000, while it is having support at 1.3860. We can say that the pair are moving sideways between 1.4000 and 1.3780 during this week.
In Regards to the pound dollar pair, it declined today on the four hours chart to get through the support level of 1.6300, to record a low of 1.63045 and a high of 1.6381. The pair slipped after fundamentals about the British economy showed a drop in retail sales, as it came in at -0.6% in May from 0.9%. The pair is getting support at 1.6300 and if it moves beyond this level it will be targeting 1.6205, while there is a support at 1.6430. According to the stochastic oscillator, the pair is moving towards an overbought area.
As for the dollar yen pair, it inclined yesterday due to the weakened yen against majors that supported the pair to continue its correction movement to the upside. Today the pair is trying to edge down again to remain consolidating around the same levels that it was trading at this week. The pair is having a strong support at 96.00, while the 96.75 level represents a resistance in the last two sessions. Worth mentioning is the breaking the predetermined support level gives the pair more chance to decline to the 94.60 level on the medium term.