The euro fell against the dollar in today's Asian session, while the pound and the yen are consolidating. This came after majors rallied yesterday against the weakened dollar as fundamentals from the euro area and U.K came supporting the euro and the pound, while investor's appetite for risk increased on clear signs of recovery. The USDIX inclined recording a high of 77.34 and a low of 77.16.
The euro dollar pair fell recording a high of 1.4517 and a low of 1.4481, having the 16 nation's currency trading around 1.4490. The pair rallied yesterday as the dollar weakened, while the euro was supported by optimistic fundamentals showing a widening trade balance surplus and an improving exports in Germany. The pair is having a resistance at 1.4535 along with a support at 1.4450. The German CPI will be released today affecting the pair, while the daily stochastic oscillator is supporting the upside, so if the resistance was breached we may see the pair trading near the 1.4570 levels.
Regarding the pound dollar pair, it is consolidating between 1.6545 and 1.6490 recording a high of 1.6543 and a low of 1.6496, and the royal pound is currently trading around 1.6515. The pair breached the 1.6450 level that represented a strong resistance as the pound was backed by a cheerful report showing a rebounding industrial production in U.K. The pair is having a support at 1.6455 along with a resistance at 1.6560. England's trade balance is on queue today and it may help the pair to incline, especially with forecasts of a narrowing deficit. However, the pair is trading in an overbought area according to momentum indicators on the daily charts.
Finally, the dollar yen pair declined slightly recording a low of 92.25 and a high of 92.42. Today the pair is having a support at 92.00 along with a resistance at 92.70. The four hours stochastic oscillator is supporting the upside so if the pair breached the resistance it may target 93.00 levels.