The euro and the pound consolidating against the green currency, while the yen continued to decline ahead of a report expected to show companies in the U.S cut fewer jobs in November. The USDIX that tracks the strength of the dollar against a basket of major currencies fell slightly recording a low of 74.38 and a high of 74.48, and it is currently trading around 74.45.
The euro dollar pair is consolidating between 1.5065 and 1.5105 recording a low of 1.5073 and a high of 1.5103, having the 16 nation's currency trading around 1.5095. Consolidating today came after the pair rallied yesterday on cheerful fundamentals showing retail sales in Germany advancing, besides inclining PMI manufacturing in the euro area and today that pair is having a support at 1.5060 along with a resistance at 1.5120. The pair is anticipated to incline according to the daily stochastic oscillator, so it may breach the resistance to target 1.5175.
As for the pound dollar pair, it fell slightly recording a low of 1.6586 and a high of 1.6621, having the royal currency trading around 1.6600. The pair is having a support at 1.6550 along with a resistance at 1.6645, and if it breached the support, the pair may fall back to the 1.6510 levels. The British PMI services will be released today affecting the pair's trades. However, the pair is trading in an overbought area according to the four hour momentum indicators.
Finally, the dollar yen pair inclined for the second day recording a high of 87.14 and a low of 86.58, having the pair trading around 87.00. Today's resistance could be found at 87.50, while the support could be found at 86.55, and the pair is expected to show further gains according to the daily stochastic oscillator so we may see it breaking the resistance to target 87.90 levels. Yet, the ADP employment change in the U.S is on queue today and it tends to move the market on release.