The euro and the pound gained against the dollar in today's Asian session, while the yen is consolidating after fundamentals today showed that consumer prices in
The euro dollar pair inclined recording a high of 1.4645 and a low of 1.4585, having the union currency trading around 1.4635. The pair gained after yesterday's drop that came along with fundamentals showing increasing deflation risks in the euro area as consumer prices fell more than forecasts. The pair is having a resistance at 1.4685 along with a support at 1.4570. The euro zone's consumer confidence may support the pair today to gain further if it showed improvements. However, the pair is trading in an oversold area according to the daily stochastic oscillator.
Regarding the pound dollar pair, it gained recording a high of 1.5956 and a low of 1.5877, having the royal currency trading around 1.5945. The pair is having a resistance at 1.6015 along with a support at 1.5865. If the pair breached the resistance it may target 1.6075. Fundamentals concerning mortgage approvals and current account in the U.K will be released today that will affect the pair's trade. However, momentum indicators on the four hours scale are supporting the upside.
Finally, the dollar yen pair is consolidating between 90.30 and 89.70 recording a high of 90.22 and a low of 89.78. The pair is having a resistance at 90.55 along with a support at 89.45. Consumer confidence in the U.S is on queue today and it tends to move the market on release. Yet, the pair is trading in an overbought area according to the four hours stochastic oscillator.