Consolidation dominated the currencies market in today's Asian session, after major pairs sharply declined last week. Still the dollar appear to be the biggest winner and the USDIX rose slightly in the Asian session recording a high of 81.74 and a low of 81.58, while it is currently trading around 81.65.
The euro dollar pair is consolidating between the 1.3400 levels and the 1.3305 levels recording a high of 1.3341 and a low of 1.3312, having the union currency trading around 1.3330. The pair breached the strong support of 1.3440 last week to signal a sharp decline, while the daily momentum indicators still supporting the down trend. The support could be found at 1.3270, while the resistance could be found at 1.3460, and if the pair breached the support, it may drop to the 1.3195 levels. Moreover, the ECB will release its rate decision today that will move the market.
Regarding the pound dollar pair, it is trading between a high of 1.5236 and a low of 1.5211, having the royal currency trading around 1.5225. The pair is having a support at 1.5125, along with a resistance at 1.5270, and the pair may show further declines today according to the daily stochastic oscillator. However, the BOE will announce its rate decision that will move the pair on release.
Finally, the pound dollar pair recorded a high of 93.42 and a low of 93.15, and it is currently trading around 93.25. Today's support could be found at 92.70, while the resistance could be found at 94.80, while momentum indicators on the four hour and daily charts are supporting the downside. Yet, data concerning the labor market in the U.S will be released today that will affect the pair.