A dollar on the brink? That’s one possibility of a pause to watch in trading this week, ahead of the FOMC meeting next week. Here are some key levels to consider:
- EUR/USD is at fresh highs since April last year, pushing 1.0900 as buyers eye 1.1000.
- GBP/USD knocking on the door of its December highs at 1.2443-46 again
- USD/CAD is nearing the low for the year around 1.3320-45 after rejecting 100-day moving average near 1.3500 last week
- AUD/USD is closing back in a retest of key psychological resistance at 0.7000
- NZD/USD threatens daily resistance from the August high at 0.6468 and a key short-term top at 0.6500
This comes as we see US stocks also rally higher late last week to retest key technical levels, as outlined here. These are trades that could go hand-in-hand, so keep an eye on that potential if there are any positive risk triggers during the week.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.