The euro and the pound gained against the weakened dollar in today's Asian session since fundamentals yesterday showed the world's largest economy expanded at a slower pace in the third quarter than preliminary estimates. On the other hand gold recorded a new high at $1177.03 per ounce reducing the dollar appeal as a refuge.
So far, the USDIX that tracks the strength of the dollar against a basket of currencies, declined recording a low of 74.93 and a high of 75.13, and it is currently trading around 74.97.
The euro dollar pair gained recording a high of 1.4994 and a low of 1.4960, having the 16 nation's currency trading around 1.4995. The pair is having a resistance at 1.5015 along with a support at 1.4975 and the pair is expected to show further gains according to the daily momentum indicators, so we may see the pair breaching the resistance and trading near the 1.5070.
Regarding the pound dollar pair, it gained as well recording a high of 1.6618 and a low of 1.6579, having the royal pound trading around 1.6625. The pair is having a resistance at 1.6650 along with a support at 1.6560 and if the resistance was breached, the pair will target 1.6710. The British GDP is on queue today and it will affect the pair on release. However, the four hour stochastic oscillator is supporting the upside.
Finally, the dollar weakened against the Japanese yen to record a low of 88.19 and a high of 88.62, having the pair trading around 88.35. The pair is having a support at 88.00 along with a resistance at 88.75. The pair is expected to decline more according to the daily momentum indicators, so it might breach the support and fall back to the 87.55. The U.S personal spending, Uni of Michigan confidence and new home sales are on queue today and they tend to move the market on release.