Majors moved in tight ranges against the dollar during the Asian session as cautious prevailed on markets ahead of the US GDP for the second quarter, where the dollar index traded between the lowest of 81.59 and the highest of 81.71. The index now trades around 81.62.

The US will also release the advanced reading for the personal consumption, the core PCE, as well as Chicago PMI and Michigan consumer confidence. Meanwhile Canada will release the GDP for May while EU will release the unemployment rate expected to remain at 10% in June and the CPI flash estimate.

The euro traded today between the highest of 1.3069 and the lowest of 1.3046. Now it trades around 1.3063, between 1.3030 and 1.3115. The hourly momentum indicators show the pair might rebound from an oversold area. The four hours indicators show the pair might rebound from an overbought area. While the daily indicators show the pair might witness a negative crossover within an overbought area. The pair may target the 1.3220 if it breaches the 1.3165, and may target the 1.2965 level if it breaches the 1.2990.

The pound traded today between the highest of 1.5616 and the lowest of 1.5597. Now it trades around 1.5611, between 1.5610 and 1.5670. The hourly momentum indicators show the pair might rebound from an oversold area. The four hours indicators show the pair might rebound from an overbought area. While the daily indicators show the pair might witness a negative crossover within an overbought area. The pair may target the 1.5745 if it breaches the 1.5700, and may target the 1.5540 level if it breaches the 1.5580.

The dollar against the yen traded today between the highest of 86.81 and the lowest of 86.26. Now it trades around 86.38, between 86.25 and 86.80. The hourly and four hours momentum indicators show the pair is within an oversold area, while the daily indicators show the pair might rebound from an overbought area. The pair may target the 87.95 if it breaches the 87.00, and may target the 85.35 level if it breaches the 85.95.