Consolidation dominated the currencies market in today's Asian session, having major currencies fluctuating or inclining slightly against the federal currency. The USDIX that tracks the dollar's strength against a basket of major currencies declined slightly in the Asian session recording a low of 80.07 and a high of 80.26, while it is currently trading around 80.10.
The euro dollar pair is consolidating between the 1.3710 levels and 1.3645 levels recording a high of 1.3697 and a low of 1.3658, having the union currency trading around 1.3695. The 1.3655 level is still representing a major support for the pair that it couldn't breach yesterday, and today momentum indicators on the four hour charts are supporting the upside. Today's trading range may be between 1.3580 levels and 1.3830 levels. However, the euro zone's CPI will be released today that will move the pair.
Regarding the pound dollar pair, it is trading between a high of 1.5070 and a low of 1.5039, having the royal currency trading around 1.5055. The pair is having a support at 1.4990 along with a resistance at 1.5130, and the pair is trading in the oversold area according to the four hour stochastic oscillator. Moreover, the pair may decline to the 1.4940 level if it broke the support.
Finally, the dollar extended its drop against the Japanese yen recording a low of 89.97 and a high of 90.39, while the pair is currently trading around 90.10. Today's support could be found at 89.65, while the resistance could be found at 92.15, and further declines are anticipated according to momentum indicators on the daily scale. Yet, the FOMC rate decision is on queue today and it tends to move the market on release.