The dollar extended its gains against the euro and the pound ahead of reports expected to show personal income in the world's largest economy rose alongside rising new home sales, after fundamentals yesterday showed the U.S GDP grew 2.2% in the third quarter.
The euro dollar pair is consolidating between 1.4280 and 1.4235 recording a high of 1.4275 and a low of 1.4242, while the pair is currently trading around 1.4255. The pair is having a resistance at 1.4315 along with a support at 1.4210, and if the resistance was breached, we may see the pair trading near the 1.4370. However, the pair is trading in an oversold area according to the four hour momentum indicators.
Regarding the pound dollar pair, it declined recording a low of 1.5936 and a high of 1.5936, having the royal currency trading around 1.5955. The pair is having a support at 1.5870 along with a resistance at 1.6000. The BOE minutes will be released today and it may affect the pair, and if it broke the support it will target 1.5810.
Finally, the dollar declined against the Japanese yen recording a low of 91.54 and a high of 91.82, having the pair trading around 91.75. Today's support could be found at 91.45, while the resistance could be found at 92.00. Fundamentals concerning new home sales and personal spending in the U.S are on queue today that may move the market. Yet, the pair is trading in an overbought area according to the four hour momentum indicators.