The euro and the pound are consolidating in today's Asian session after sever declines we witnessed during this week, amid fears spread in the currencies market corroding investors' appetite for risk and encouraging traders to turn to buy the dollar and the yen. The USDIX is consolidating today recording a low of 78.13 and a high of 78.46, and it is currently trading around 78.20.
The euro dollar pair inclined slightly recording a high of 1.4137 and a low of 1.4085, having the union currency trading around 1.4130. The pair is inclining today after three days of sharp declines and momentum indicators daily charts says the pair is trading in an oversold area. We may see more gains today before the pair starts falling back targeting 1.4000 levels. Today's trading range may be between 1.3945 and 1.4145.
Regarding the pound dollar pair, it is consolidating between 1.6225 and 1.6160 recording a low of 1.6166 and a high of 1.6219, while the pair is currently trading around 1.6220. The pair is having a support at 1.6050 and a resistance at 1.6240, having the four hours stochastic oscillator supporting the upside. Yet, the British retail sales will be released today that will affect the pair.
Finally, the dollar weakened against the Japanese yen recording a low of 89.77 and a high of 90.45, and it is currently trading around 90.10. Today's resistance could be found at 89.60, while the support could found at 91.00, and the pair is trading in an oversold area according to the four hour momentum indicators.