The euro and the pound continued to rally against the green currency after it reached a 14 month low against the euro on optimism spread in the currencies market along with cheerful earnings reported by corporations in the U.S which encouraged traders to target the high yielding currencies. The USDIX fell today recording a low of 75.24 and a high of 75.45.
The euro dollar pair extended its gains in today's Asian session recording a high of 1.4960 and a low of 1.4923, having the euro trading around 1.4955. Yesterday the pair breached the 1.4915 level and today it is having a resistance at 1.5000 along with a support at 1.4885. If the pair breached the resistance it will target 1.5060, worth mentioning that the pair is trading in an overbought area according to the four hour momentum indicators. However, the euro zone's CPI will be released today that may affect the pair's trades.
Regarding the pound dollar pair, it also rallied recording a high of 1.6060 and a low of 1.6000, having the royal currency trading around 1.6055. Yesterday the pair jumped back to the 1.6000 level and today it is having a resistance at 1.6090 along with a support at 1.6010. In case the resistance was breached, the pair will target 1.6125 levels. However, the daily stochastic oscillator is supporting the upside.
Finally, the dollar yen pair is consolidating between 89.70 and 89.20 recording a high of 89.64 and a low of 89.29. The pair is having a resistance at 89.70 along with a support at 89.00. A report today showed that