Major currencies starting trading this week gaining against the dollar extending its correctional move started by the end of last week. The USDIX that tracks the dollar's strength against a basket of major currencies fell in today's Asian session to record a low of 80.13 and a high of 80.45, while it is currently trading around 80.25.
The euro dollar pair inclined slightly to record a high of 1.3690 and a low of 1.3636, having the union currency trading around 1.3675. The pair is currently in an attempt to breach the resistance level of 1.3675, and momentum indicators on the four hour charts saying the pair is trading in the overbought area, that makes us expect the pair to decline slightly later today. The 3720 level remains a resistance, while the support could be found at 1.3585. However, the German industrial production will be released today that may affect the pair.
Regarding the pound dollar pair, it is trading between a high of 1.5186 and a low of 1.5128, having the royal currency trading around 1.5170. The pair is having a resistance at 1.5230 along with a support at 1.5005, while the stochastic oscillator on the daily scale is supporting the upside, which makes us expect further gains today. Moreover, if the pair breached the 1.5230 level, it will target 1.5270.
Finally, the dollar fell slightly against the Japanese yen and the pair recorded a low of 90.33 and a high of 90.64, while it is currently trading around 90.45. Today's resistance could be found at 91.40, while the support could be found at 88.60, and the pair is trading in the overbought area according to the four hour momentum indicators.