Majors traded in a narrow range against the dollar during today's Asian session with an upside bias. The dollar index traded between the highest of 86.70 and the lowest of 86.30. Now the index trades around the 86.38 level. The US economy will release today the ADP employment change for the month of May expected to rise to 70 thousand from 32 thousand, in addition to the jobless claims, the EIA crude inventories and the ISM for services expected to reach to 55.6 in May from 55.4.
The euro against the dollar traded during the Asian session between the highest of 1.2325 and the lowest at 1.2245. Now the pair is trading around the 1.2304 level, between 1.2290 and 1.2335. The EU will release today its retail sales for the month of April which might rise by 0.1% from the previous 0.0%, in addition to the PMI services report. The hourly and four hours momentum indicators point is within an overbought area. As for the daily indicators they point that the pair might rebound from an oversold area. The pair today may trade around 1.2420 if it breaches the 1.2365 levels, and may trade around 1.2200 if it breaches the 1.2255 levels.
The pound against the dollar traded between the highest of 1.4733 and the lowest of 1.4651. Now the pair is trading around the 1.4728 levels between 1.4700 and 1.4730. The UK will release today its PMI services expected to rise to 55.7 in May from 55.3. The hourly, four hours and the daily momentum indicators point that the pair is within an overbought area. The pair today may trade around 1.4930 if it breaches the 1.4850 levels, and may trade around 1.4585 if it breaches the 1.4635 levels.
The dollar against the yen traded between the highest of 92.41 and the lowest of 92.03. Now the pair is trading around 92.37 levels between 91.50 and 92.50. The hourly momentum indicators point that the pair might rebound from an oversold area. However, the four hours indicators show the pair in within an overbought area. As for the daily indicators, they show the pair might witness a negative crossover within an overbought area. The pair today may trade around 93.30 if it breaches the 92.80 levels, and may trade around 90.00 if it breaches the 90.70 levels.