Majors traded in a narrow range against the dollar during today's Asian session with a downside bias as caution mounts before the release of Europe's preliminary reading for the first quarter GDP expected to remain unchanged at 0.2%, as well as the change in the nonfarm payrolls from the US expected to show that the economy added 536 thousand jobs in May while the unemployment rate is expected to fall to 9.8% from the previous 9.9% . The dollar index traded between the highest of 87.18 and the lowest of 87.08. Now the index trades around the 87.11 level.
The euro against the dollar traded during the Asian session between the highest of 1.2185 and the lowest at 1.2162. Now the pair is trading around the 1.2181 level, between 1.2175 and 1.2200. Besides the GDP the EU will release the preliminary reading for the government expenditures expected to rise by 0.3% and the household consumption expected to fall to -0.1%. The hourly momentum indicators point is within an overbought area. As for the four hours and the daily indicators they point that the pair is within an oversold area. The pair today may trade around 1.2280 if it breaches the 1.2255 levels, and may trade around 1.2100 if it breaches the 1.2135 levels.
The pound against the dollar traded between the highest of 1.4642 and the lowest of 1.4625. Now the pair is trading around the 1.4631 levels between 1.4585 and 1.4635. The hourly, momentum indicators point that the pair might rebound from an overbought area, but the four hours indicators point that the pair might witness a positive crossover within an oversold area, as for the daily indicators they point that the pair is within an overbought area. The pair today may trade around 1.4730 if it breaches the 1.4700 levels, and may trade around 1.4530 if it breaches the 1.4585 levels.
The dollar against the yen traded between the highest of 92.85 and the lowest of 92.54. Now the pair is trading around 92.79 levels between 92.50 and 92.80. The hourly, four hours and daily momentum indicators point that the pair in within an overbought area. The pair today may trade around 93.60 if it breaches the 93.30 levels, and may trade around 91.50 if it breaches the 91.80 levels.