EURUSD
Following its failure to surpass 50-day SMA, the EURUSD again aims to revisit 1.0505 – 1.0500 support-zone; however, lower-line of a broader trend-channel, at 1.0480 now, could confine its successive south-run. In case if tomorrow's almost certain Fed rate-hike drags prices below 1.0480, 61.8% FE of the pair's recent downturn, at 1.0385, may offer intermediate halt prior to fetching the quote towards 1.0200 – 1.0190 area. However, any disappointments from FOMC, be it in terms of no rate-hike, which is less likely, or absence of hawkish statement from Fed Chair, may fuel the pair to 1.0680 nearby resistance before flashing 1.0765-70, comprising 23.6% Fibonacci Retracement of its May – December drop, on the chart. Given the pair surpasses 1.0770, chances of its further north-run to 50-day SMA level of 1.0850 and the 38.2% Fibo level of 1.0930 can't be denied.
GBPUSD
Even if two-year high UK CPI propelled GBPUSD to surpass 1.2695 – 1.2700 horizontal-line, the pair seems failing to sustain the breakout and may again dip to 1.2660 support. Should the pullback lasts longer below 1.2660, the 1.2620 and the 1.2590 are likely following downside figures to please short-term sellers prior to rejuvenating 1.2550-60 support-zone. In case if the USD strength weakens prices to break 1.2550, it becomes wise to expect 1.2460 and 1.2425 support-levels during its extended south-run. Meanwhile, 1.2730-35 and the early month high of 1.2775 may entertain pair's immediate buyers, breaking which 61.8% FE level of 1.2790 and the 1.2800 are expected north-side figures to appear for the quote. Given the pair bulls command prices beyond 1.2800, the 1.2860 and the 1.2930 resistances should be watched carefully.
USDCAD
While rising Crude prices has been helping CAD off-late, the pair seems struggling to clear 1.3120-15 horizontal support, breaking which a month-old descending trend-channel support of 1.3075 and the 1.3050 may offer consecutive stops before fetching it to October lows around 1.3000 psychological magnet. If prices sustain downturn below 1.3000, chances of witnessing a plunge to 1.2930 and to the 1.2860 become brighter. On the upside, 1.3140 and the adjacent descending trend-line figure of 1.3170 can limit the pair's nearby advances, clearing which 1.3210 and the mentioned channel's resistance, at 1.3250 now, become important for traders. In case if prices rally beyond 1.3250, the 1.3310 and the 1.3380 might please pair Bulls.
NZDUSD
Although three-week old ascending trend-channel signals NZDUSD upside, 0.7220-25 horizontal-resistance becomes strong short-term barrier for the pair to break prior to aiming the channel's upper-line of 0.7270. Should the pair surpasses 0.7270, the 0.7300 round figure may hold the door for its further rally towards 0.7330 and then the November high around 0.7400. Alternatively, 0.7155, followed by channel support of 0.7130, are likely adjacent rests that the pair could avail during its reversal, breaking them can drag it to 0.7070 and the 0.7035. If strong USD fetches the quote below 0.7035, the 0.7000 psychological magnet becomes important to watch, which if broken opens door for the pair's southward trajectory to 0.6960 support-mark.
Cheers and Safe Trading,
Anil Panchal