Majors fell slightly in today's Asian session following a drop yesterday, after the EIA report showed crude oil inventories rose 2.3% more than the expected 0.4%, which pushed commodities prices down so investors turned to buy the dollar. The USDIX fell slightly recording a low of 79.34 and a high of 79.51, while it is currently trading around 79.39.
The euro dollar pair is consolidating between a low of 1.3866 and a high of 1.3902, having the union currency trading around 1.3890. The pair breached the 1.3900 yesterday and today it is expected to show further declines. Moreover, the pair is trading in an oversold area according to the four hour momentum indicators and it is having a support at 1.3800 along with a resistance at 1.4145. The ECB will announce its rate decision today that will affect the pair.
Regarding the pound dollar pair, it fell slightly recording a low of 1.5880 and a high of 1.5916, having the royal currency trading around 1.5900. The pair is having a support at 1.5850 along with a resistance at 1.6075. The four hour and daily stochastic oscillators say the pair is trading in the oversold area that may make us wait for more declines today. However, the BOE will announce its rate decision today which is going to affect the pair on release.
Finally, the dollar yen pair is consolidating between a high of 91.04 and a low of 90.78, having the green currency trading around 90.90. Today's support could be found at 89.90, while the resistance could be found at 91.10, and momentum indicators on the daily charts are supporting the upside. Data concerning the housing market are on queue today and they might move the market on release.