Major currencies declined against the U.S dollar in today's Asian session ahead of the preliminary reading of the British gross domestic product for the fourth quarter of last year that is expected to show an expansion. The USDIX that tracks the dollar's strength against a basket of currencies, inclined today to record a high of 78.44and a low of 78.07, while it is currently trading around 78.45.
The euro dollar pair fell in the Asian session to record a low of 1.4074and a high of 1.4178, having the union currency trading around 1.4085. The pair is currently below the 1.4125 levels that might be followed by further declines to the 1.4020 levels, while momentum indicators on the four hours and one hour charts are supporting the downside. The euro zone's current account will be released today that will affect the pair's trades. However, today's trading range shall be between 1.4050 levels and1.4260 levels.
As for the pound dollar pair, it declined slightly after yesterday's rally to record a low of 1.6199 and a high of 1.6267, having the royal currency trading around 1.6215. Today's fundamentals are anticipated to show the British economy expanded 0.4% in the quarter ended December that will affect the currencies market on release. Moreover, the pair is trading in an overbought area according to the four hour stochastic oscillator, and the pair is having a support at 1.6000 along with a resistance at 1.6265.
Finally, the Japanese yen gained against the dollar to offset yesterday's drop and the pair recorded a low of 89.54 and a high of 90.54, while it is currently trading around 89.80. Today's support could be found at 89.00, while the resistance could be found at 91.45. Yet, the U.S consumer confidence is on queue today that may affect the pair.