The pound started taking a correctional move against the dollar in today's Asian session, while the euro still consolidating around the 1.2540 levels, after yesterday's drop. The USDIX that tracks the dollar's strength against a basket of major currencies recorded a high of 85.45 and a low of 85.30, while the index is currently trading around 85.35.
The euro dollar pair recorded a low of 1.2517 and a high of 1.2549, having the union currency trading around 1.2540. The pair fell yesterday for the fourth straight day and today we may see further declines according to the daily stochastic oscillator. Today's trading range shall be between 1.2490 levels and 1.2665 levels, and if the support was breached, the pair may fall to the 1.2450 levels.
Regarding the pound dollar pair, it rose slightly recording a high of 1.4634 and a low of 1.4585, having the royal currency trading around 1.4620. The pair is having a support at 1.4540 along with a resistance at 1.4810, and the pair is trading in the oversold area according to momentum indicators on the four hour scale, which means a correctional move would dominate today's trades.
Finally, the dollar gained against the Japanese yen after yesterday's fall recording a high of 92.92 and a low of 92.50, while the pair is currently trading around 92.90. Today's resistance could be found at 93.65, while the support could be found at 91.80and the pair is heading towards the overbought area according to the four hour momentum indicators.