The euro and the pound started this week gaining against the green currency having optimism spread within the currencies market ahead of the U.S GDP reading that will be released later this week and it is expected to show a rebounding economy.
The euro dollar pair gained recording a high of 1.5062 and a low of 1.4981, having the 16 nation's currency trading around 1.5035. The pair still taking an upside breaching the 1.5060 level where it faced a major resistance to start falling back to the 1.5010 levels. The pair is having a resistance at 1.5085 along with a support at 1.5000. In case the pair continued to rally breaking the resistance we may see it trading near the 1.5125 levels. However, the pair is trading in an overbought area according to the daily momentum indicators.
Regarding the pound dollar pair, it inclined slightly in today's Asian session recording a high of 1.6316 and a low of 1.6249, having the royal pound trading around 1.6295. The pair is having a resistance at 1.6335 along with a support at 1.6225. Today the pair may decline according to the daily stochastic oscillator so we may see it breaching the support and trading near the 1.6170 levels. However, the British CBI distributive trade will be released today that may affect the pair's trades.
Finally, the dollar weakened against the Japanese yen recording a high of 92.11 and a low of 91.56. The pair is having a resistance at 92.20 along with a support at 91.40. If we witnessed the breach of the support, the pair may fall to the 91.00 levels. Yet, the pair is trading in an overbought area according to the four hour stochastic oscillator.