Major pairs are consolidating in Christmas holidays, having the dollar slightly declining against the yen and the pound due to technical movements. The USDIX declined slightly in today's Asian session recording a high of 77.91 and a low of 77.77.

The euro dollar pair is consolidating between 1.4360 and 1.4325 recording a high of 1.4356 and a low of 1.4330, having the 16 nation's currency trading around 1.4345. The pair is expected to remain consolidating today after it gained yesterday since the U.S housing data came less than forecasts. Today's support could be found at 1.4300, while the resistance could be found at 1.4390, and if the resistance as breached, we may see the pair trading near the 1.4430 levels. However, the pair is trading in an overbought area according to the four hour momentum indicators.

As for the pound dollar pair, it inclined slightly recording a high of 1.5992 and a low of 1.5954, having the royal pound trading around 1.5990. The pair is having a resistance at 1.6050 along with a support at 1.5930, and the pair is anticipated to incline according to the four hour stochastic oscillator, so it might break the resistance and target 1.6100.

Finally, the dollar declined against the Japanese yen recording a low of 91.24 and a high of 91.73, having the pair currently trading around 91.30. The pair is having a support at 91.00 along with a resistance at 91.85, and if the pair breached the support, it may fall back to the 90.50 levels. Fundamentals concerning durable goods orders and jobless claims in the U.S will be released today that may move the market. Yet, the four hour momentum indicators are supporting the downside.