Major currencies consolidating ahead of the European GDP final reading that will be released later today, besides the unemployment rate that is expected to rise to 9.9% that may affect the euro in today's trades. The U.S economy will release the unemployment reading today and it is expected to settle at 10% that tends to move the market on release.
The USDIX that tracks the dollar's strength against a basket of major currencies, recorded a low of 77.92 and a high of 78.06, and it is currently trading around 77.96.
The euro dollar pair fell slightly to record a low of 1.4300 and a high of 1.4327, having the union currency trading around 1.4312, between 1.4275 and 1.4345. The German trade balance and current account are on queue today and they are expected to show a narrowing surplus, which is going to affect the pair's trades. However, the pair is expected to move between 1.4430 if it breached the 1.4385 levels and 1.4175 levels, in case the pair breached the 1.4215 levels.
Regarding the pound dollar pair, it is consolidating recording a high of 1.5955 and a low of 1.5914, having the royal currency trading around 1.5948. The daily stochastic oscillator is supporting the downside, so we might see the pound falling back to the 1.5870 levels. Yet, the pair is having a support at 1.5830 and a resistance at 1.6055.
Finally, the dollar yen pair is consolidating between 93.00 and 93.70, recording a high of 93.66 and a low of 93.12, and the pair is currently trading around 93.35. The pair is having a support at 91.25 and a resistance at 94.10, and if the support was breached, the pair will fall back to the 90.75 levels. However, the pair is trading in an overbought area according to the four hour momentum indicators.