The euro and the pound fell against the dollar in today's Asian session after they gained yesterday backed by fundamentals showing that contraction in the world's largest economy eased which encouraged investors to turn to buy the high yielding currencies. The USDIX inclined recording a high of 76.85 and a low of 76.58.
The euro dollar pair fell recording a low of 1.4616 and a high of 1.4667, having the sixteen nation's currency trading around 1.4620. The pair fell today ahead of fundamentals expected to show increasing unemployment in the euro area as it was forecasted to reach 9.6% from a prior 9.5%. The pair is having a support at 1.4585 along with a resistance at 1.4665. If the pair breached the support it will target 1.4510, having in mind that the pair is trading in an overbought area according to the four hours stochastic oscillator.
Regarding the pound dollar pair, it fell recording a low of 1.5925 and a high of 1.6009, having the royal pound trading around 1.5935. The pair is having a support at 1.5885 along with a resistance at 1.6010. In case the pair breached the resistance, we may see the pair trading near the 1.6085 levels. The British PMI manufacturing is on queue today that will affect the pair's trades. However, the pair is trading in an oversold area according to the daily momentum indicators.
Finally, the dollar yen pair is consolidating between 90.00 and 89.67 recording a high of 89.99 and a low of 89.67. The yen gained against the dollar during today's session after fundamentals showed that retail sales inclined in August by 1.0%, while the Tankan survey showed improvements. Currently the pair is consolidating having a resistance at 90.35 and a support at 89.40. Fundamentals concerning personal spending and ISM manufacturing in the U.S will be witnessed today and they tend to move the market on release. Yet, the four hours stochastic oscillator is supporting the upside.