The euro and the pound took a correctional move to the downside today after yesterday's rally that came with the FOMC rate decision and it was decided to keep interest rates between 0.0% and 0.25%. The USDIX rose in today's Asian session recording a high of 75.91 and a low of 75.17.
The euro dollar pair declined recording a low of 1.4823 and a high of 1.4875, having the union currency trading around 1.4845. The pair is taking a correctional move after it gained yesterday from the 1.4730 levels to the 1.4900 levels then falling back to the 1.4865 levels. The pair is having a support at 1.4810 along with a resistance at 1.4885. The pair may show further declines today according to the four hour stochastic oscillator so it may breach the support and target the 1.4755 levels. The ECB will announce its rate decision today that will affect the pair's trades.
As for the pound dollar pair, it declined as well after breaching the 1.6580 level yesterday then falling back to the 1.6555 levels. The pair recorded a low of 1.6494 and a high of 1.6559, having the royal pound trading around 1.6525. The resistance could be represented at 1.6570, while the support could be found at 1.6475. The BOE will release its rate decision today that tends to move the market and if the pair breached the support we may see it trading near the 1.6410 levels.
Finally, the green currency fell against the Japanese yen recording a low of 90.29 and a high of 90.68, having the pair trading around 90.45. The pair is having a support at 90.20 along with a resistance at 90.75. The pair will be trading around 89.80 if the pair broke the support. Yet, the four hour stochastic oscillator is supporting the downside.