The euro and the pound gained against the dollar after the PMI services in the euro area and
The euro dollar pair inclined in today's Asian session recording a high of 1.4723 and a low of 1.4655, having the 16 nation's currency trading around 1.4725. Yesterday the pair jumped from the 1.4655 levels to the 1.4710 levels on rising risk appetite which helped the euro to gain and today the pair is having a resistance at 1.4785 along with a support at 1.4660. In case the pair breached today's resistance it will target 1.4835, having in mind that the daily momentum indicators are supporting the upside.
As for the pound dollar pair, it also inclined recording a high of 1.5998 and a low of 1.5933, having the royal pound trading around 1.5985. The pair is having a resistance at 1.6015 along with a support at 1.5925. Fundamentals concerning industrial production in the U.K will be released today that may help the pair to break today's resistance and target the 1.6080 levels. However, the four hour stochastic oscillator is supporting the upside.
Finally, the dollar fell sharply against the Japanese yen recording a low of 88.89 and a high of 89.63. The pair is having a support at 88.65 along with a resistance at 89.55. The pair fell for the second straight day and we may see it breaking the support today and trading near the 88.10 levels. Yet, the four hour stochastic oscillator is supporting the downside.