Majors traded in tight ranges against the US dollar during today's Asian session, where the dollar index traded between the highest of 86.91 and the lowest of 86.71. Now the index trades around the 86.74 level. The US will release today its EIA crude inventories report in addition to the new home sales for the month of April expected to rise to 425 K.

The euro against the dollar traded during the Asian session between the highest of 1.2339 and the lowest at 1.2270. Now the pair is trading around the 1.2302 level, between 1.2290 and 1.2339. Germany will released today its Gfk consumer confidence for the month of June which came at 3.5 compared with the previous revised reading of 3.7. The hourly momentum indicators point that the pair is within an oversold area. As for the four hours indicators they indicate the pair might witness a negative crossover within an overbought area. As for the daily indicators, they show that the pair will continue rebounding from an overbought area. The pair today may trade around 1.2470 if it breaches the 1.2410 levels, and may trade around 1.2180 if it breaches the 1.2250 levels.

The pound against the dollar traded between the highest of 1.4407 and the lowest of 1.4363. Now the pair is trading around the 1.4387 levels between 1.4340 and 1.4390. The UK will release today its BBA loans for house purchasing which is expected to rise in April. The hourly momentum indicators point that the pair is within oversold area, as for the four hours indicators show the pair might witness a negative crossover within an overbought area. As for the daily indicators they show that the pair might rebound from an overbought area. The pair today may trade around 1.4460 if it breaches the 1.4420 levels, and may trade around 1.4195 if it breaches the 1.4230 levels.

The dollar against the yen traded between the highest of 90.36 and the lowest of 89.98. Now the pair is trading around 90.21 levels between 90.00 and 90.70. Japan will release later in the day its merchandise trade balance which is expected to witness a decline in the surplus during April. The hourly and daily momentum indicators point that the pair might rebound from an overbought area, as for the four hours indicators show the pair might witness a negative crossover within an overbought area. The pair today may trade around 90.60 if it breaches the 90.10 levels, and may trade around 88.70 if it breaches the 89.00 levels.