The US dollar continued to fall against the majors during the Asian session after the disappointing data released yesterday from the US industrial sector. On the other hand the SEC imposed a highest fine in its history on Goldman Sachs worth 550 million dollars.
These data determined the US dollar to loose its strength against the majors, however the yen rose to its highest in a week, while the euro reached its highest in two months.
The euro moved in narrow ranges during the Asian session following the gains achieved yesterday. The pair traded between the highest of 1.2951 and the lowest of 1.2913. The daily and four hours momentum indicators show the pair might fall during today. The next support level may be found at 1.2700, but the next upside target may be found at 1.3000.
The pound also moved in narrow ranges but with an upside bias. The pair traded between the highest of 1.5432 and the lowest of 1.5413 and now its trades around 1.5415. The daily and four hours momentum indicators show the pair is within an overbought area limiting its chances to move further more to the upside. The 1.5300 represents a support level and might be the next target on the short term.
The dollar against the yen continued to fall trading around 87.26. The pair traded between the highest of 87.49 and the lowest of 87.36. The daily and four hours momentum indicators still favor the downside movement. The level 86.90 remains the next target, yet the level 88.00 may be a strong resistance.