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Some hesitation ahead of FOMC.

The US$ slide has paused ahead of today's FOMC and the index is currently shaping up with an indecision Spinning Top daily candle. Gold has pushed a bit higher but most other instruments are little changed in the wait for the US rate update and comments from the US Fed Chair as well as for US lawmakers to finalise the Covid relief package.

 

Data: Watch today with AUD CPI, US Pending Home Sales data and FOMC.

 

Earnings: some more big names report on Wednesday:

 

DXY daily: the index is currently shaping up with an indecision Spinning Top daily candle on top of the major support trend line so watch to see how FOMC impact price direction:

 

Trend line breakouts:

Gold 4hr: this recent channel breakout has now given up to $160 BUT watch for any impact from today's FOMC:

 

GBP/USD 4hr: the Cable has edged higher as well so watch 1.30 for any new make or break:

 

AUD/USD 4hr: this has edged up a bit but watch 0.72 and revised trend lines (second chart) for any new make or break:

 

Other markets:

S&P500 4hr: a bit lower but watch the trend line for any new make or break:

 

ASX200 4hr: also headed a bit lower so watch 6,000 for any new make or break:

 

EUR/USD 4hr: consolidating under the 13-year trend line so watch this, and revised trend lines, for any new make or break:

 

NZD/USD 4hr: consolidating under 0.67 so watch this for any new make or break:

 

AUD/JPY 4hr: consolidating above 75 so watch this for any new make or break:

 

USD/JPY 4hr: now consolidating above 105 so watch this for any new make or break: