The FOMC will announce a rate decision at 2 PM ET. The rotations are 25 basis points although the regional bank pressure has brought down the expectations a bit ahead of that rate decision. The question may be how can the Fed execute a dovish hike. You can read Adam's preview HERE:
Technically, the USD has moved lower ahead of the decision. The ADP employment report came in stronger than expectations which did throw a stall in the dollars decline a bit, with rated erasing some of the declines, but those moves are being reversed as focus turns back to the Fed.
IN this report I look at the EURUSD , USDJPY and GBPUSD.
The EURUSD moved back above its 100/200 hour MAs tilting the bias more to the upside once again. The USDJPY fell back below its 100 hour MA but remains above its 200 hour MA. The GBPUSD is making a bearish play on a move below its 100 hour MA but remains above its lower 200 hour MA.
Watch and learn.