Both the US$ and S&P500 are struggling under key resistance levels and this is dictating activity across the markets. Watch to see if today’s FOMC impacts here.
Data: Watch today for impact from NZD Trade Balance, AUD CPI, US Advance GDP data and the FOMC rate update.
Earnings: some more big names report on Wednesday:
DXY:
DXY daily: the index remains range-bound and under the key 100 level:
DXY monthly: note how the index travels more under the 100 than above.
Trend line breakouts:
AUD/USD
AUD/USD 4hr: this TL b/o has given 100 pips BUT watch the 0.65 level for any new make or break:
AUD/USD monthly: there are two things to observe on the monthly chart:
- there is a bullish-reversal descending wedge in play.
- price rallied after the GFC so will it be the same after this Covid-19 induced market pullback?
AUD/JPY 4hr: this TL b/o has given 70 pips BUT watch the 70 level for any new make or break:
GBP/USD 4hr: this TL b/o has given 100 pips BUT watch the 1.25 level for any new make or break:
Other markets:
S&P500 4hr: struggling under the 2,900 – 3,000 level:
ASX-200 4hr: struggling under the 5,450 level:
Gold 4hr: watch for any new Bull Flag here:
