Majors traded in narrow ranges with a downside bias against the dollar during today's Asian session. The dollar index traded between the highest of 86.61 and the lowest of 86.26. Now the index trades around the 86.52 level. The US will release today its initial jobless claims for the week ending in May 15, Philadelphia Fed index also for the month of May and the leading indicators for the month of April which are expected to fall to 0.2% from the previous 1.4%.

The euro against the dollar traded during the Asian session between the highest of 1.2385 and the lowest at 1.2320. Now the pair is trading around the 1.2348 level, between 1.2325 and 1.2370. Germany released today its producers price index for the month of April which rose by 0.8% from the previous 0.7%. The hourly and daily momentum indicators point that the pair might rebound from an oversold area, while the four hours indicators point that the pair might witness a negative crossover in an overbought area. The pair today may trade around 1.2510 if it breaches the 1.2440 levels, and may trade around 1.2255 if it breaches the 1.2295 levels.

The pound against the dollar traded between the highest of 1.4425 and the lowest of 1.4372. Now the pair is trading around the 1.4380 levels between 1.4335 and 1.4450. The UK will release today its retail sales for the month of April which are expected to fall from the previous month. The hourly and daily momentum indicators point that the pair might rebound from an oversold area, while the four hours indicators point that the pair might witness a negative crossover in an overbought area. The pair today may trade around 1.4520 if it breaches the 1.4450 levels, and may trade around 1.4210 if it breaches the 1.4250 levels.

The dollar against the yen traded between the highest of 91.86 and the lowest of 91.55. Now the pair is trading around 91.65 levels between 91.45 and 91.75. Bank of Japan held monetary policy meeting. The hourly momentum indicators point that the pair might rebound from an overbought area, while the four hours indicators point that the pair might rebound from an oversold area, as for the daily indicators they show that the pair is within an oversold area. The pair today may trade around 92.75 if it breaches the 92.30 levels, and may trade around 90.65 if it breaches the 91.00 levels.