The dollar declined slightly against majors today after pessimistic fundamentals released concerning business confidence in the U.S. The USDIX declined today reaching a low of 78.75.
The euro gained slightly against the dollar today and the pair recorded a high of 1.4194 and a low of 1.4139. Fundamentals concerning consumer confidence in the U.S showed that confidence in the world's largest economy declined to 46.6 in July from 49.3 in June. The pair reached the 1.4300 level yesterday but it dropped back to the 1.4150 level having the union currency trading around $1.4170. The pair is having a resistance at 1.4200 along with a support at 1.4140. However, momentum indicators on the four hours scale indicating that the pair is trading in an oversold area.
As for the pound dollar pair, it inclined recording a high of 1.6468 and a low of 1.6392. Yesterday the pair broke the 1.6500 level then it went back to the 1.6450 level today having the royal currency trading around $1.6445. The pair is having a support at 1.6400 along with a resistance at 1.6475. Mortgage approvals in the U.K will be released today may affect the pair's trend and currently the pair is trading in an oversold area according to the stochastic oscillator on the four hours chart.
Finally, the dollar yen pair declined reaching a low of 94.19 and a high of 94.67. The 95.00 level is still representing a strong resistance that the pair couldn't break despite fundamentals released concerning retail sales in Japan showing that it dropped by 3.0%. The pair is having a support at 94.00 along with a resistance at 94.75. Durable goods orders in the U.S will be released today and it may affect the pair's trades. However, momentum indicators on the daily scale are supporting the downtrend.