USDX (USD Index)
U.S dollar index range tighten before the FOMC meeting. The index might be set for a strong bearish breakout or bounce toward the 100.00 level. No clue yet on the index next direction, it is better to wait the reaction after FOMC interest-rate announcement. In the long-term, the index still on the bearish track to target lower swing low.
EUR/USD
EUR/USD maintain the position near the 1.1580 resistance level and might attempt to breakout higher. If the pair continue the bullish trend, then 1.1710 and 1.1820 are the targets to watch. On the other hand, if bearish correction started, then the 1.1300 – 1.1360 area will become the major support area to watch for bounce.
Today’s critical levels to watch:
Support: 1.1360, 1.1300, 1.1185, 1.1000
Resistance: 1.1500, 1.1580
GBP/USD
GBP/USD continue trading between 1.3450 – 1.3600 before the FOMC interest-rate announcement. Traders will wait until the pair make movement with strong momentum or close outside the range. When the pair close outside the range, traders will get confirmation on the next direction. If a bearish retest on support level happen, then traders will make use of it to enter long positions.
Today’s critical levels to watch:
Support: 1.3450, 1.3330, 1.3300
Resistance: 1.3600
USD/JPY
USD/JPY mostly stable inside the 142.00 – 145.00 area. But it looks like the pair is pressuring to the upside. If the pair breakout higher, then the green box area and daily SMA 200 will become a target to watch. On the lower side, a breakout and close below 142.00 will open the path toward 140.00 and 138.00.
Today’s critical levels to watch:
Support: 142.00, 140.00, 138.00
Resistance: 145.00, 149.20, 150.00
AUD/USD
AUD/USD maintain the position above the 0.6500 level and looks building bullish pressure. We might continue to see the pair consolidating near the green box area until the FOMC interest-rate announcement. Traders will monitor the pair movement after the news. If the pair started a bearish movement, then the daily SMA 200 and the bottom of green box area is the place to look for long positions.
Today’s critical levels to watch:
Support: 0.6350, 0.6250, 0.6000
Resistance: 0.6500, 0.6700