Majors traded in narrow ranges with a downside bias during today's Asian session. The dollar index traded between the highest of 88.32 and the lowest of 88.14. Now the index trades around 88.25 level. The US will release today the whole sales inventories as well as the EIA crude report and Fed's Beige Book.
The euro against the dollar traded during the Asian session between the highest of 1.1959 and the lowest at 1.1932. Now the pair is trading around the 1.1947 level, between 1.1910 and 1.2005. The hourly and daily momentum indicators point that the pair is within an oversold area, while the four hours indicators show the pair is within an overbought area. The pair today may trade around 1.2105 if it breaches the 1.2040 levels, and may trade around 1.1815 if it breaches the 1.1845 levels.
The pound against the dollar traded between the highest of 1.4444 and the lowest of 1.4403. Now the pair is trading around the 1.4431 levels between 1.4420 and 1.4465. the UK will release today its trade balance for the month of April which is expected to indicated a decline in the deficit. The hourly and four hours momentum indicators point that the pair might rebound from an oversold area, while the daily indicators show the pair might witness a positive crossover within an oversold. The pair today may trade around 1.4595 if it breaches the 1.4540 levels, and may trade around 1.4335 if it breaches the 1.4395 levels.
The dollar against the yen traded between the highest of 91.54 and the lowest of 91.23. Now the pair is trading around 91.46 levels between 90.90 and 91.55. Japan will release today its GDP final reading for the first quarter which is expected to witness a slowdown in its growth to 1.0% from the previous reading 1.2%, but on the yearly basis the economy might grow by 4.2% yet slower than the previous 4.9%. The hourly and four hours momentum indicators show the pair might rebound from an overbought area, while the daily indicators show the pair might rebound from an overbought area. The pair today may trade around 92.65 if it breaches the 91.90 levels, and may trade around 90.00 if it breaches the 90.40 levels.