The dollar weakened against the euro and the pound today as investor's risk appetite increased and investors started to buy high yielding currencies again. The USDIX declined to 78.52 today.

The euro dollar pair inclined today recording a high of 1.4261 and a low of 1.4218 having the union currency trading around $1.4260. The pair couldn't break the strong resistance at 1.4300 yesterday despite the cheerful fundamentals concerning new home sales in the U.S as it inclined by 11% in June. The pair is having a resistance at 1.4285 along with a support at 1.4220. However momentum indicators are supporting the uptrend and consumer confidence in the U.S will be released today so it may affect the pair's trend.

Regarding the pound dollar pair, it gained today reaching a high of 1.6521 and a low of 1.6455. Increasing risk appetite supported the royal currency against the dollar having the pound trading around $1.6510. The pair is having a resistance at 1.6555 along with a support at 1.6480. It is expected that the pair will breach the resistance to target 1.6590. According to momentum indicators on the one hour scale the pair is heading towards an overbought area.

Finally, the dollar yen pair declined slightly recording a low of 94.92 and a high of 95.25. The pair went below the support level of 95.00 pressured by the expected improvement in the Japanese retail trade that will be released today. However, the pair is having a support at 94.75 along with a resistance at 95.35. The stochastic oscillator on the four hours chart is indicating that the pair is heading towards an oversold area.