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US Dollar Index Technical Analysis: DXY under pressure ahead of FOMC

DXY daily chart

  • The US Dollar Index (DXY) is trading in a bull trend above its 200-day simple moving average (SMA).
  • The FOMC minutes at 18.00 GMT can lead to high volatility especially in USD-related currency pairs.

DXY 4-hour chart

  • DXY is trading near the important level of 97.00 figure and above the 100 and 200 SMA.

DXY 30-minute chart

  • DXY rejected 97.20 resistance and the 200 SMA.
  • Bulls seem to have run of steam. A break below 97.00 can see the acceleration of the decline towards 96.80 and 96.60 level.
  • Resistance is seen at 97.20, 97.40 and 97.60 level.

Additional key levels

 

EUR/GBP Technical Analysis: Euro losing strength against Pound

EUR/GBP daily EUR/GBP is evolving in a bear trend below its main simple moving averages (SMAs). EUR/GBP is rejecting the 0.8650 level and the 50 SMA.
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EUR/USD recovers rising back above 1.1250 as US Dollar retreats ahead of FOMC minutes

The EUR/USD dropped sharply after Draghi’s press conference hitting a 2-day low but during the last hours trimmed losses, rising back on top of 1.1250
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