Majors moved in tight ranges against the dollar with some upside bias during the Asian session, where the dollar index traded between the lowest of 81.93 and the highest of 82.10. The index now trades around 81.96. The US will release today the S&P/CS composite 20 for the month of May expected to rise by 3.85%, in addition to the consumer confidence for July expected to fall to 51.0. Meanwhile the EU will release the M3 money supply for June and Germany will release the import prices and the Gfk consumer confidence.

The euro traded today between the highest of 1.3016 and the lowest of 1.2978. Now it trades around 1.3010, between 1.2995 and 1.3030. The hourly and daily momentum indicators show the pair might continue to rebound from an oversold area, but the four hours indicators show the pair is within an overbought area. The pair may target the 1.3090 if it breaches the 1.3065, and may target the 1.2890 level if it breaches the 1.2935.

The pound traded today between the highest of 1.5503 and the lowest of 1.5477. Now it trades around 1.5499, between 1.5495 and 1.5555. The hourly momentum indicators show the pair will continue to rebound from an oversold area, while the four hours indicators show the pair will rebound from an overbought area; however, the daily indicators show the pair is within an overbought area. The pair may target the 1.5620 if it breaches the 1.5580, and may target the 1.5410 level if it breaches the 1.5455.

The dollar against the yen traded today between the highest of 87.00 and the lowest of 86.82. Now it trades around 86.92, between 86.60 and 86.95. The hourly and daily momentum indicators point to the possibility of a negative crossover within an overbought area, while the four hours indicators point to the possibility of a positive crossover within an oversold area. The pair may target the 88.00 if it breaches the 87.30, and may target the 85.95 level if it breaches the 86.30.