Majors moved sideways during today's Asian session, after dropping yesterday; due to U.S reports showing an improvement in the housing and manufacturing sectors. The USDIX slightly fell today, recording a low of 78.68 and a high of 78.83.
The euro dollar pair is consolidating among 1.4225 and 1.4190, recording a high of 1.4221 and a low of 1.4188, while the union currency is currently trading around 1.4215. Yesterday, the pair breached the 1.4300 support, after the dollar strengthened, supported by cheerful fundamentals concerning the housing and manufacturing sectors. While today, the pair faces support at 1.4175, along with a resistance at 1.4240. The euro zone's GDP is on queue today which will be affecting the pair. However, according to momentum indicators on the four hours scale, the pair is trading in oversold areas.
Regarding the pound dollar pair, it gained after yesterday's drop, recording a high of 1.6178 and a low of 1.6115, trading around 1.6165. After the pair breached the major support level at 1.6200 yesterday, the heading is now towards 1.6000 levels, over the coming period. Today, the pair faces the resistance at 1.6200, along with a support at 1.6120. If the pair breached the support it will target 1.6085. Stochastic over four hours charts; is indicating that the pair is trading in an oversold area.
Finally, the dollar gained against the Japanese yen recording a high of 93.00 and a low of 92.63. The pair faces a resistance at 93.15, along with a support at 92.50. The ADP employment change may help the dollar gain further, especially since it is expected to show improvements. In addition, the FOMC minutes are to be released today, where it tends to move the market upon release. So far, the pair is trading in an oversold area, according to momentum indicators on the daily scale.