Major currencies started trading this week inclining against the federal currency, offsetting declines witnessed last week, due to the absence of confidence in financial markets. The USDIX that tracks the dollar's strength against a basket of currencies declined in today's Asian session recording a low of 83.43 and a high of 84.18, having the index currently trading around 83.60.

The euro dollar pair inclined in the Asia session recording a high of 1.2968 and a low of 1.2807, having the union currency trading around 1.2931. The pair fell to the 1.2510 levels last week and today it is having a resistance at 1.2985 along with a support at 1.2700. However, the pair is expected to show further gains today according to the daily momentum indicators, and the German current account is on queue today that may affect the pair.

Regarding the pound dollar pair, it rose in the Asian session recording a high of 1.4905 and a low of 1.4787, having the royal currency trading around 1.4895. The pair is having a resistance at 1.4950 along with a support at 1.4640, and it is trading in the overbought area according to the four hour stochastic oscillator. Moreover, the BOE will announce its rate decision today that may move the pair.

Finally, the dollar gained against the Japanese yen recording a high of 92.86 and a low of 91.82, while the pair is currently trading around 92.65. Today's resistance could be found at 93.00, while the support could be found at 90.90, and the daily stochastic oscillator is supporting the upside.