The euro and the pound rallied against the green currency in today's Asian session following a sharp decline yesterday. The USDIX fell today recording a low of 76.69 and a high of 77.05.
The euro dollar pair inclined recording a high of 1.4700 and a low of 1.4613, having the 16 nation's currency trading around 1.4685. Yesterday the pair fell from the 1.4730 level back to the 1.4650 level to start taking a correctional move to the upside today. The pair is having a resistance at 1.4715 along with a support at 1.4655. The pair may turn back to its downside trend as the daily stochastic oscillator is supporting the downside, having in mind that if the pair breached the support it will target 1.4600.
Regarding the pound dollar pair, it inclined recording a high of 1.6028 and a low of 1.5916, having the royal currency trading around 1.6015. The pair dropped from the 1.6350 levels to the 1.5915 levels before it start taking a correctional move to the upside having a resistance at 1.6045 along with a support at 1.5945. Total business investments in U.K is on queue today and it may help the pound to breach the resistance and target 1.6085 in case it showed improvements. However, the pair is trading in an oversold area according to the four hours momentum indicators.
Finally, the dollar fell against the Japanese yen recording a low of 90.54 and a high of 91.01. The pair is having a support at 90.20 along with a resistance at 91.00 and in case the pair broke the support we may see it trading near the 90.00 levels. Fundamentals concerning new home sales, durable goods orders will be released today in the U.S and they tend to move the market on release. Yet, the four hours stochastic oscillator is supporting the downside.