The dollar is currently trading in sideways wave ahead of the U.S. data, since they are scheduled to release the ISM non-manufacturing composite, where expectations show will expand to 50.5 after it has been contracting lately. Markets are waiting for the release of the non-farm payrolls on Friday, which will help us continue to understand the current labor conditions. The Dollar Index is being traded at 77.68, while recording a high of 77.99 and a low of 77.60.
The euro against the federal currency is currently traded at 1.4362 between the support of 1.4323 and the resistance of 1.4396, as momentum indicators on the one-hour charts are providing us with a downside trend, as the pairrecently records a high of 1.4382 and a low of 1.4281. Also, on the one-hour charts, the volume indicator is revealing that there is narrow range trading taking place ahead of Friday.
The United Kingdom released its service sector showing that the expansion widened to 56.8 from the prior 56.6, the release of this news did not affect the pound since there was a slight expansion. The pound versus the dollar is currently being traded at 1.5994 between the support of 1.5934 and the resistance of 1.6034, while recording a high of 1.6062 and a low of 1.5943. The volume indicator on the one-hour chart is revealing that there is low volume in markets.
Since there is slight optimism in markets, investors are more turned towards higher yielding assets than lower yielding assets, and as a result of this the yen is declining versus the dollar. The USD/JPY is being traded at 92.38, while recording a high of 92.49 and a low of 91.51, for the pair we see a support at 92.18 and a resistance at 92.55.