The euro and the pound fell slightly against the green currency in today's Asian session after last week's rally, while the yen gained. However, optimism remains spread in the currencies market after cheerful earnings reported last week by American corporations.
The euro dollar pair declined slightly recording a low of 1.4828 and a high of 1.4895, having the sixteen nation's currency trading around 1.4885. Lat week the pair reached the 1.4965 levels the highest in more than one year before it start taking a correction move to the down side today. The pair is having a resistance at 1.4930 along with a support at 1.4850. In case the pair breached the resistance it will target 1.4985 levels, having in mind that the four hour stochastic oscillator is supporting the upside.
Regarding the pound dollar pair, it also declined recording a low of 1.6279 and a high of 1.6357, having the royal pound trading around 1.6335. The pair is having a support at 1.6265 along with a resistance at 1.6370. A report concerning public finance in the U.K will be released today that may support the pair to breach the resistance if it showed improvements and if the pair traded above the resistance it will target 1.6400 levels, while if the support was breached the pair may fall back to the 1.6210 levels. However, the pair is trading in an overbought area according to the daily momentum indicators.
Finally, the dollar yen pair is consolidating between 90.65 and 91.10 recording a low of 90.72 and a high of 91.04. The pair is having a resistance at 91.10 along with a support at 90.55. The producers price index and housing starts in the U.S are on queue today and they tend to move the market on release. Yet, the pair may show further declines according to the four hour stochastic oscillator, so we may se that pair breaching the support and trading near 90.00 levels.