Majors fell against the dollar and the yen during the Asian session on fears over slower global economic growth, which lowered investors appetite for risk and pushed them towards safer heaven. Meanwhile even the momentum indicators back the downside movement for the majors against the dollar since they reached lately in an overbought areas.
The Euro fell today against the dollar and the yen recording the lowest of 1.3048 and the highest 1.3159. Now the pair is trading around 1.3062. The daily momentum indicators support the downside movement of the pair, as the dollar's strength managed to determine the euro break the 1.3125 support, so the next target now is at 1.2925.
The pound against the dollar broke the 1.5800 support and now is heading downwards, recording the lowest at 1.5766 and the highest at 1.5831. Now the pair is trading at 1.5782, and is targeting the 1.550 level over the short term, since it finds support from the daily momentum indicators which show the pair is within an overbought area.
The dollar against the yen traded around the same levels at which it closed yesterday, with some upside bias, recording the highest of 85.18 and the lowest of 85.45, and now it trades around 85.33. The daily and four hours momentum indicators support the upside movement, which increases pressure on the pair to escape the limited range in which it moved lately.