The euro and the pound continued to strengthen against the green currency in today's Asian session as optimism spread in the market backing the high yielding currencies. The Japanese yen also rallied especially after the release of the interest rate decisions. However, the USDIX declined sharply recording a low of 75.49 and a high of 75.87.
The euro dollar pair advanced today recording a high of 1.4899 and a low of 1.4839, having the 16 nation's currency trading around 1.4595. The pair breached the 1.4875 level today having a resistance at 1.4925 along with a support at 1.4860. The euro zone's industrial production will be released today that may support the euro to show further gains especially it is expected to show improvements. However, the pair is trading in an overbought area according to momentum indicators on the four hours charts.
Regarding the pound dollar pair, it also gained recording a high of 1.5991 and a low of 1.5901, having the royal pound trading around 1.5985. The pair rallied ahead of the release of unemployment rate in
Finally, the dollar fell against the Japanese yen before the Bank of Japan released its interest rate decision and it decided to keep interest rates at 0.10%, while it raised its assessment for the economy. The pair recorded a low of 88.82 and a high of 89.87 and today it is having a support at 88.65 along with a resistance at 89.50. If the pair breached the support it will target 88.10. The FOMC minutes and retail sales in the U.S are on queue today and they tend to move the market on release. Yet, the four hour stochastic oscillator is supporting the downside.