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If we look at the daily chart of the US dollar index, the index is trading within a range after the massive fall on November 1. On H1, yesterday’s falls during the day made the price to test the support at 95.72. However, it managed to rebound. The next strong resistance lies at 96.35. If the FOMC comments are hawkish, it can stick above 96.35. Otherwise, it can fall below 95.72.
How will it affect EUR/USD, GBP/USD, USD/JPY and gold?
However, new uncertainties keep coming from the news, affecting the pair. Today, EU chief Brexit negotiator Michel Barnier said they won’t soften their views on the Irish border backstop, until Theresa May works out a decent solution. According to the latest news, May asked European officials to give her more time to complete a deal with Cabinet members. More uncertainties will pull the cable down to the support at 100-day MA at 1.3105. Positive news, on the other side, will help the pair to rise upwards to the resistance at 1.3248.
In other news:
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
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