The pound extended its gains

By @ibtimes on

The euro consolidated against the green currency in today's Asian session, while the pound extended yesterday's gains and the yen rallied on cheerful fundamentals witnessed today in China. The USDIX declined slightly recording a low of 75.64 and a high of 75.76.

The euro dollar pair is consolidating between 1.4890 and 1.4845 recording a high of 1.4883 and a low of 1.4854, having the 16 nation's currency trading around 1.4880. The pair is having a support at 1.4845 along with a support at 1.4915 and if it breached the resistance the pair will target 1.4970, while it the support was breached the pair will be trading around 1.4800 levels. However, the daily stochastic oscillator is supporting the upside.

As for the pound dollar pair, it rallied recording a high of 1.6622 and a low of 1.6557, having the royal pound trading around 1.6660. The pair is having a resistance at 1.6660 along with a support at 1.6530. The pair may show further gains today according to the daily stochastic oscillator so it may breach the resistance and trade near the 1.6710 levels.

Finally, the dollar declined against the Japanese yen recording a low of 90.50 and a high of 90.80, having the pair trading around 90.55. Today's support could be represented at 90.25 and the resistance could be represented at 90.85. The yen gained after fundamentals showed that the leading index rose in September to 86.4 that supported the Japanese currency. However, the U.S unemployment rate will be released today and it tends to move the market on release.

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