The euro and the pound extended their declines against the green currency. After Standard & Poor's signaled it may cut Greece's rating again, raising concerns about the situation in the euro area. The USDIX that tracks the dollar's strength against a basket of major currencies inclined in the Asian session recording a high of 81.11 and a low of 80.72, while it is currently trading around 81.05.
The euro dollar pair dropped in Today's Asian session recording a low of 1.3450 and a high of 1.3545, having the union currency trading near a nine month low at 1.3460. The pair breached the 1.3500 level and it is targeting the 1.3360 levels over the short term. The pair may show further declines according to the daily momentum indicators, while the stochastic oscillator on the four hour scale says the pair is trading in the oversold area. The euro zone's consumer confidence is on queue today that may move the pair.
Regarding the pound dollar pair, it declined as well recording a low of 1.5324 and a high of 1.5419, having the royal currency trading around 1.5335. The pair is having a support at 1.5270 along with a resistance at 1.5555, while the stochastic oscillator on the four hour charts is supporting the downside. The British CBI distributive trades is on queue today that may move the pair.
Finally, the dollar yen pair dropped to record a low of 89.45 and a high of 90.28, and the pair is currently trading around 89.70. The pair broke the 90.00 level that should be followed by a sharp decline, and the support could be found at 88.75, while the resistance could be found at 90.80. Yet, reports concerning durable goods orders and initial jobless claims in the U.S will be released today that may move the market.