Major currencies consolidated in today's Asian session ahead of the ECB announce its rate decision, and Mr. Trichet's conference. The world's leading economy will release the retail sales reading for December and it may move the market, especially with forecasts saying that retail trade in the U.S rose in a slower pace. The USDIX recorded a low of 76.68 and a high of 76.81, and it is currently trading around 76.76.

The euro dollar pair recorded a high of 1.4555 and a low of 1.4520, having the union currency trading around 1.4535 between the 1.4530 levels and 1.4565 levels. The pair is trading in an overbought area according to momentum indicators on the daily and one hour charts, and it is expected to trade between the 1.675 levels, if it breached the 1.4620 and 1.4425 levels, in case the pair broke the 1.4450.

The pound dollar pair recorded a low of 1.6270 and a high of 1.6308, having the royal currency trading around 1.6275. The pair is trading between the 1.6240 levels and 1.6355 levels, and momentum indicators on the four hour and daily charts says the pair is heading towards an overbought area. However, the pair is anticipated to be trading between 1.6150 levels, if it breached 1.6150 and 1.6500 levels if the pair broke the 1.6410 levels.

Finally, the dollar yen pair inclined slightly to record a high of 91.78 and a low of 91.27, having the pair trading around 91.70. Today's inclined came after fundamentals showed machine orders in Japan unexpectedly declined, giving signs of a falling capital spending. Yet, the pair is trading in an oversold area according to the momentum indicators on the daily charts, between 92.60 levels and 90.35 levels.