The green currency strengthened against majors in today's Asian session, after the Federal Reserve said yesterday, the U.S economy is improving gradually, worth mentioning that the bank kept interest rates steady between 0.25% and 0.0%. The USDIX that tracks the strength of the dollar against a basket of currencies inclined recording a high of 77.35 and a low of 76.90.
The euro dollar pair declined sharply recording a low of 1.4368 and a high of 1.4530, and the pair is currently trading around 1.4400. The pair is falling for the third straight day and it is having a support at 1.4340 along with a resistance at 1.4460, and it is expected that the pair will show further declines according to the four hour stochastic oscillator, to breach the support and fall back to the 1.4300 levels. However, momentum indicators on the daily scale say the pair is trading in an oversold area.
As for the pound dollar pair, it declined as well recording a low of 1.6230 and a high of 1.6332, having the pair trading around 1.6250. The pair is having a support at 1.6185 along with a resistance at 1.6300, and if the pair broke the support, we may see it trading near the 1.6130 levels. The British retail sales will be released today that will affect the pair's trades. However, the four hour stochastic oscillator is supporting the downside.
Finally, the dollar gained against the Japanese yen for the third straight day recording a high of 90.25 and a low of 89.83, and the pair is currently trading around 90.15. Today's resistance could be found at 90.60, while the support could be found at 89.70, and if the pair breached the resistance, it will target 91.20 from where we may see the pair climbing to the 92.00 levels. Yet, the daily momentum stochastic oscillator is supporting the upside.