Dollar on the brink? That's one possibility of a break to watch in trading this week, ahead of the FOMC meeting next week. Here are some key levels in consideration:
- EUR/USD is at fresh highs since April last year, pushing 1.0900 as buyers eye 1.1000
- GBP/USD knocking on the door of its December highs at 1.2443-46 again
- USD/CAD nears the lows for the year around 1.3320-45 after rejection of 100-day moving average near 1.3500 last week
- AUD/USD closes back in on a retest of key psychological resistance at 0.7000
- NZD/USD threatens daily resistance from the August high at 0.6468 and key short-term top at 0.6500
This comes as we see US stocks also move up at the end of last week to retest key technical levels, as outlined here. These are trades that could go hand-in-hand, so watch out for that potential if there are any positive risk triggers during the week.
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