The euro gained slightly against its American counterpart, while the pound fell. This came after majors rallied yesterday supported by the euro zone's GDP. The USDIX fell recording a low of 78.32 and a high of 78.45.
The euro dollar pair is consolidating between 1.4285 and 1.4250 recording a high of 1.4282 and a low of 1.4251, having the 16 nation's currency trading around 1.4280. The pair is having a resistance at 1.4300 along with a support at 1.4255. The euro zone's retail sales will be released today that may help the pair to gain if it came inline with forecasts that refer to an improvement from last month. However, the four hours stochastic oscillator is supporting the upside.
Regarding the pound dollar pair it fell recording a low of 1.6235 and a high of 1.6285, having the royal pound trading around 1.6265. The pair went back to the 1.6200 level yesterday as investors turned to buy the high yielding currencies and today the pair is having a support at 1.6220 along with a resistance at 1.6300. If the pair breached the support it will target 1.6185. According to momentum indicators on the four hours scale, the pair is trading in an overbought area.
Finally, the dollar yen pair is consolidating between 92.40 and 91.90 recording a low of 91.93 and a high of 92.36. The pair is having a support at 91.85 along with a resistance at 92.55. If the resistance was breached the next target would be 92.80. The pair is trading in an oversold area according to the daily stochastic oscillator. The U.S ISM non manufacturing composite is on queue today and it may move the market.