The high yielding currencies; the euro and the pound fell in today's Asian session on pessimism that found its way back to the currencies after we witnessed fundamentals yesterday showing that consumer confidence in the World's largest economy fell to 47.7 in October from a revised 53.4.
The euro dollar pair fell slightly recording a low of 1.4787 and a high of 1.4825, having the union currency trading around 1.4815. The pair still on its correction move to the downside after the dollar reached a 14 month low against the euro last week. Today the pair is having a support at 1.4760 along with a resistance at 1.4860. The pair may decline further according to the daily stochastic oscillator so we may see it breaching the support and trading near the 1.4700 levels.
As for the pound dollar pair, it also declined recording a low of 1.6337 and a high of 1.64025, having the royal pound trading around 1.6365. The pair is having a support at 1.6285 along with a resistance at 1.6435. If the pair broke the support it will target 1.6225 from where it may fall back to the 1.6170 levels. However, the daily stochastic oscillator is supporting the downside.
Finally, the dollar weakened against the Japanese yen recording a low of 91.07 and a high of 91.71. The pair is having a support at 90.80 along with a resistance at 91.55. The U.S durable goods orders and new home sales will be released today and they tend to move the market on release. Yet, the four hour momentum indicators are supporting the downside.