The euro declined against the dollar today, while the pound is consolidating. The yen dropped after pessimistic fundamentals released today from Japan. The USDIX fell today reaching a low of 78.01.
The euro dollar pair declined recording a high of 1.4376 and a low of 1.4352, having the union currency trading around 1.4360. The pair is having a support at 1.4315 along with a resistance at 1.4385. If the pair breached the resistance it will target 1.4410. However, momentum indicators on the four hours scale are supporting the upside. Economic confidence in the euro area will be released today along with cheerful expectations of higher confidence.
Regarding the pound dollar pair it is consolidating between 1.6255 and 1.6310 recording a low of 1.6260 and a high of 1.6300. Yesterday the pair inclined for the first time this week and today it will be having a support at 1.6230 along with a resistance at 1.6315. If the pair managed to break the resistance, we may see it getting back to the 1.6350 level. The British GDP is on queue today and it will affect the pair's trades on release, while the stochastic oscillator on the four hours charts is supporting the upside.
Finally, the dollar gained against the Japanese yen today and the pair recorded a high of 93.84 and a low of 93.43. The dollar gained after fundamentals was released from Japan showing that unemployment reached 5.7% in July from a prior 5.4%, while household spending dropped 2.0% and consumer prices fell 2.2%. Such pessimistic fundamentals pressured the yen and gave the dollar a chance to rally. The pair is having a support at 93.50 along with a resistance at 93.90. So far, the four hours stochastic oscillator is supporting the uptrend.