Majors started trading this week fluctuating against the federal currency amid lack of fundamentals, after the Feds decision last week to raise the discount rate by 25 basis points pushed majors down. The USDIX that tracks the dollar's performance against a basket of major currencies is trading between a high of 80.61 and a low of 80.35, while it is currently trading around 80.50.
The euro dollar pair is trading between the 1.3670 levels and the 1.3605 levels recording a high of 1.3653 and a low of 1.3619. The pair is trading around 1.3635, having a resistance at 1.3665 along with a support at 1.3430. However, the pair is trading in an oversold area according to the daily momentum indicators.
Regarding the pound dollar pair, it is consolidating between a high of 1.5495 and a low of 1.5460, having the royal currency trading around 1.5485. The pair is having a support at 1.5270 along with a resistance at 1.5525, and the daily stochastic oscillator is supporting the downside.
Finally, the dollar yen pair is trading between the high of 91.89 and the low of 91.58, having the pair trading around 91.65. Today's support could be found at 90.80, while the resistance could be found at 92.50, and the pair is expected to show further declines according to the four hour stochastic oscillator.