The overall movement of U.S. dollar index is sideway for now as traders awaiting the FOMC statement this week. If the index starts moving upward again then the daily SMA 200 will become the target. On the lower side, 100.00 is the bearish target to watch. In the long-term, we think the index will continue the bearish movement and reach 100.00 level or lower this year. EUR/USD consolidated near the 1.100o level and continue to stick near it. The pair might continue trading near the level until the FOMC meeting this week. If the pair start moving lower again then 1.0900, 1.0800, and 1.0650 will become the bearish target to watch. On the other hand, if the pair could continue moving upward and close above 1.1000 at the end of week then the bullish trend could continue. Today’s critical levels to watch: Support: 1.0900, 1.0800, 1.0650, 1.0339 Resistance: 1.1000 GBP/USD made a bearish close yesterday though not a significant bearish close. The pair might start a bearish correction to target the 1.2000 – 1.2200 area or the daily SMA 200. As the overall trend is bullish, traders will use each bearish correction as a chance to enter long positions. On the upside, 1.2625 and 1.2800 will continue to become the bullish target to watch. Today’s critical levels to watch: Support: 1.2200, 1.2100, 1.2000, 1.1450 Resistance: 1.2625, 1.2800 USD/JPY reached the daily SMA 200 and close above it yesterday. The pair has a chance to continue the bullish movement now. However, the pair show bearish rejection from the averages and there is no higher high printed on the chart yet. If the pair extend the bearish movement after the Fed FOMC meeting then the bearish trend will continue. Today’s critical levels to watch: Support: 133.00, 130.00, 125.00 Resistance: 137.70 AUD/USD start moving upward again but experience bearish reactions near the 0.6700 – 0.6750 area. The pair might stick near the area until the FOMC meeting this week. If the pair could continue the upward movement and close above the daily SMA 200 at the end of the week then the bullish trend will continue. However, if the pair get rejected with strong bearish reactions then we might see a continuation toward the 0.6500 level. Today’s critical levels to watch: Support: 0.6500, 0.6000 Resistance: 0.6700, 0.6750, 0.6820, 0.7000

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