The euro and the pound declined today against the green currency, taking a correctional move to the downside after majors gained yesterday on cheerful housing data in the U.S, while personal spending and personal income came proving recovery is undergoing. The USDIX that tracks the strength of the dollar against a basket of major currencies inclined recording a high of 74.39 and a low of 74.16 and it is currently trading around 74.36.
The euro dollar pair declined recording a low of 1.5092 and a high of 1.5138, having the 16 nation's currency trading around 1.5105. The pair is having a support at 1.5070 along with a resistance at 1.5145 and the pair is expected to show further gains according to the daily momentum indicators, so it may breach the support and target 1.5010 levels.
Regarding the pound dollar pair, it declined as well recording a low of 1.6641 and a high of 1.6724, having the royal pound trading around 1.6675. The pair is having a support at 1.6615 along with a resistance at 1.6700. According to the one hour stochastic oscillator, the pair is expected to decline further to break the support and fall back to 1.6570.
Finally, the dollar continued to weaken against the Japanese yen recording a low of 86.28 and a high of 87.47, having the pair trading around 86.57. Today's support could be found at 86.10, while the resistance could be found at 86.85 and if the pair breached the support it may fall back to the 85.75 levels. Yet, the four hour momentum indicators are supporting the downside.