The euro and the pound gained against the green currency in today's Asian session following yesterday's rally. Investor's appetite for risk kept pushing the high yielding currencies to the upside, having in mind that the dollar reached its lowest level this year against a basket of major currencies in yesterday's trades. The USDIX declined recording a low of 75.87 and a high of 76.10.
The euro dollar pair inclined slightly recording a high of 1.4822 and a low of 1.4784, having the 16 nation's currency trading around 1.4815. The euro settled above the 1.4800 level yesterday and today it is having a resistance at 1.4855 along with a support at 1.4780. A series of fundamentals in the euro area will be released today such as the PMI manufacturing and industrial new orders that may support the euro to show further gains incase they showed improvements. Yet, the pair is trading in an overbought area according to the daily momentum indicators.
As for the pound dollar pair, it inclined recording a high of 1.6412 and a low of 1.6354, having the royal pound trading around 1.6405. The pair is trading above the 1.6400 level that it breached yesterday to have a resistance at 1.6435 along with a support at 1.6360. In case the resistance was beached we may see the pair trading near the 1.6470 level. So far, the daily stochastic oscillator is supporting the upside. The BOE minutes is on queue today and it tends to affect the pair's trades on release.
Finally, the dollar yen pair is consolidating between 91.05 and 90.60 recording a high of 91.01 and a low of 90.66. The pair is having a support at 90.35 along with a resistance at 91.15. The FOMC rate decision will be witnessed today and it tends to move the market on release. However, the pair is trading in an oversold area according to the four hours momentum indicators.