The euro and the pound dropped against the dollar in today's Asian session ahead of important fundamentals concerning the labor market in the euro area and the housing sector in the U.S. The USDIX that tracks the strength of the dollar against a basket of major currencies, rallied today recording a high of 75.07 and a low of 74.68, and it is currently trading around 74.98.
The euro dollar pair declined recording a low of 1.4970 and a high of 1.5035, having the 16 nation's currency trading around 1.4995. The pair is having a support at 1.4955 along with a resistance at 1.5030 and it is expected to show further declines according to the one hour momentum indicators. If the pair breached the support, it may fall back to the 1.4910 levels. Unemployment rate in the euro zone and Germany will be released today and it will affect the pair on release.
Regarding the pound dollar pair, it declined as well recording a low of 1.6402 and a high of 1.6460, having the royal pound trading around 1.6425. The pair is having a support at 1.6375 along with a resistance at 1.6465 and if the support was breached, we may see the pair trading near the 1.6315 levels. The British Nationwide house prices is on queue today that will affect the pair. However, the pair is trading in an oversold area according to the four hour momentum indicators.
Finally, the dollar gained against the Japanese yen recording a high of 87.51 and a low of 86.27, having the pair trading around 87.35. Today's resistance could be found at 87.80, while the support could be found at 86.70 and if the pair broke the r resistance it will target 88.15 from where it may climb to the 88.65 levels. Pending home sales and ISM manufacturing in the U.S are on queue today that may move the market. Yet, the four hour momentum indicators are supporting the upside.