Majors fell slightly ahead of the U.S GDP

By @ibtimes on

The euro and the pound extended their declines against the green currency ahead of the U.S GDP that is expected to show economic growth in the world's leading economy accelerating. The USDIX that tracks the dollar's performance against a basket of major currencies fell today recording a low of 78.91 and a high of 79.13.

The euro dollar pair fell in today's Asian session to record a low of 1.3911 and a high of 1.3967, having the union currency trading around 1.3930. The pair is expected to show further drops today according to momentum indicators on the daily and four hours charts, and it is having a support at 1.3925 along with a resistance at 1.4090. The euro zone's unemployment rate will be released today and it may affect the pair.

Regarding the pound dollar pair, it fell slightly recording a low of 1.6108 and a high of 1.6158, and the royal currency is currently trading around 1.6125. The pair is having a support at 1.6070 along with a resistance at 1.6420, while it is trading in an oversold area that makes us expected a slight gain before the pair continue taking its bearish trend.

Finally, the dollar yen pair is consolidating between 89.40 levels and 90.15 levels recording a high of 90.04 and a low of 89.57, and the pair is currently trading around 89.85. Today's support could be found at 89.30, while the resistance could be found at 90.85. Yet, the U.S GDP will be seen today and it is anticipated to show the U.S economy expanding 4.6% in 4Q and it tends to move the market on release.

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