Consolidation was dominating the currencies market in today's Asian session even if we witnessed the euro and the royal pound declining slightly amid an absence of fundamentals. The USDIX fell slightly recording a low of 76.03 and a high of 76.21.
The euro dollar pair fell slightly recording a low of 1.4763 and a high of 1.4793, having the 16 nation's currency trading around 1.4780. The pair rallied yesterday from the 1.4720 levels to the 1.4815 levels where it found a strong resistance to start falling back to the 7.4780 levels. Today the pair is having a support at 1.4740 along with a resistance at 1.4815. The German Zew survey will be released today that may affect the pair's trades. However, the pair is trading in an overbought area according to the four hour momentum indicators.
As for the pound dollar pair, it declined slightly recording a low of 1.5761 and a high of 1.5821, having the royal currency trading around 1.5785. The pair declined for the third consecutive day and today it is having a support at 1.5750 along with a resistance at 1.5820. If the pair breached the support it will target 1.5710 from where it may fall back to the 1.5675 levels. The British CPI is on queue today that tends to affect the pair on release. However, the daily stochastic oscillator is supporting the downside.
Finally, the dollar gained against the Japanese yen recording a high of 90.05 and a low of 89.63. The pair is having a resistance at 90.25 along with a support at 89.65, having in mind that if the pair breached the resistance it will target 90.70 levels. Yet, the daily stochastic oscillator is supporting the upside.