Fundamentals concerning retail sales in the U.S came optimistic which increased investor's risk appetite after a lack of effective fundamentals during the last two weeks. The USDIX declined to 79.94.
The euro dollar pair inclined today recording a high of 1.3988 and a low of 1.3969. The cheerful industrial production reading in the Euro Zone wasn't enough for the pair to break the 1.4000 level as it is still representing a strong resistance. Industrial production in the union inclined to 0.5% from a prior revised reading of -1.4%. On the other hand retail sales in the U.S rebounded to reach 0.6% in June from 0.5% that was in the favor of the green currency. All of the above fundamentals led to a consolidation in today's trades. The pair is having a support at 1.3975 along with a resistance at 1.3990. However, momentum indicators on the four hours charts are supporting the downtrend and it is expected that the pair will move beyond the support to target the 1.3960 level.
Regarding the pound dollar pair, it is consolidating between 1.6340 and 1.6310. It recorded a high at 1.6335 and a low at 1.6316. The pair is having a support at 1.6310 and a resistance at 1.6345. It is expected that the pair will breach the resistance level to have a next resistance at 1.6385 as the pair is moving in a correctional trend to the upside after the downtrend dominated the pair's trades during the last two weeks. According to the momentum indicators, the pair is trading in an overbought area.
Finally, the dollar yen pair declined slightly today after the dollar gained against the yen yesterday to reach the 93.75 level, while today the pair recorded a low of 93.43 and a high of 93.64. The pair is having a resistance at 93.70 along with a support at 93.40. However, the stochastic oscillators on the four hours scale indicating that the pair is trading in an overbought area.