Technical Overview of USD/CAD, USD/CHF and NZD/USD Currency Pairs
USD CAD
The USD traded lower against the CAD and closed at 1.3148.
Fed says that it will stay patient on further rate hikes.
US Dollar Index falls sharply on the dovish shift in the language.
WTI settles above $54 on Wednesday.
FOMC Press Conference is a quarterly event that attracts the attention of financial analysts and economists from around the world. During the press conference, the US Federal Open Market Committee members respond to journalists' questions about the US monetary policy, inflation prospects and measures taken to achieve its target level.
The index allows making conclusions about the terms of interest rate changes or changes in the monetary policy, depending on the speaker's rhetoric. Indirect hints at the coming growth of interest rates are seen as positive for the dollar.
According to the Analysis, The pair is expected to find support at 1.30838, and a fall through could take it to the next support level of 1.30201. The pair is expected to find its first resistance at 1.32461, and a rise through could take it to the next resistance level of 1.33447.
Previous Day range was 162.3 and Current Day Range is 26.5.
USD CHF
The USD traded lower against the CHF and closed at 0.9941.
US Dollar Index rises toward 96 on strong ADP data.
Wall Street starts the day on a strong footing.
FOMC is expected to keep its policy rate unchanged at 2.5%.
FED Interest Rate Decision is made on a predetermined date during the vote among the members of the Federal Open Market Committee (FOMC) concerning the Federal Reserve short-term interest rates to be charged from credits and commercial bank loans.
The increasing rate can have a positive effect on USD, while a decrease can affect USD negatively. If the rate remains unchanged, the analysts evaluate the number of "for" and "against" votes and discuss statements of voters after the minutes of meeting are published in order to forecast the results of the next meeting.
The pair is expected to find support at 0.99169, and a fall through could take it to the next support level of 0.98928. The pair is expected to find its first resistance at 0.99799, and a rise through could take it to the next resistance level of 1.00188.
USD CHF previous Day range was 63 and Current Day Range is 19.4.
NZD USD
The NZD traded higher against USD and closed at 0.6888.
The NZD/USD pair jumped 24 pips to a session high of 0.6824 after the ratings agency S&P raised New Zealand outlook to positive from stable and left rating unchanged at AA.
According to the analysis, pair is expected to find support at 0.68352, and a fall through could take it to the next support level of 0.67826. The pair is expected to find its first resistance at 0.69257, and a rise through could take it to the next resistance level of 0.69636.
NZD USD previous day range was 90.5 and current day range is 37.1.
USD CAD
The USD traded lower against the CAD and closed at 1.3148.
Fed says that it will stay patient on further rate hikes.
US Dollar Index falls sharply on the dovish shift in the language.
WTI settles above $54 on Wednesday.
FOMC Press Conference is a quarterly event that attracts the attention of financial analysts and economists from around the world. During the press conference, the US Federal Open Market Committee members respond to journalists' questions about the US monetary policy, inflation prospects and measures taken to achieve its target level.
The index allows making conclusions about the terms of interest rate changes or changes in the monetary policy, depending on the speaker's rhetoric. Indirect hints at the coming growth of interest rates are seen as positive for the dollar.
According to the Analysis, The pair is expected to find support at 1.30838, and a fall through could take it to the next support level of 1.30201. The pair is expected to find its first resistance at 1.32461, and a rise through could take it to the next resistance level of 1.33447.
Previous Day range was 162.3 and Current Day Range is 26.5.
USD CHF
The USD traded lower against the CHF and closed at 0.9941.
US Dollar Index rises toward 96 on strong ADP data.
Wall Street starts the day on a strong footing.
FOMC is expected to keep its policy rate unchanged at 2.5%.
FED Interest Rate Decision is made on a predetermined date during the vote among the members of the Federal Open Market Committee (FOMC) concerning the Federal Reserve short-term interest rates to be charged from credits and commercial bank loans.
The increasing rate can have a positive effect on USD, while a decrease can affect USD negatively. If the rate remains unchanged, the analysts evaluate the number of "for" and "against" votes and discuss statements of voters after the minutes of meeting are published in order to forecast the results of the next meeting.
The pair is expected to find support at 0.99169, and a fall through could take it to the next support level of 0.98928. The pair is expected to find its first resistance at 0.99799, and a rise through could take it to the next resistance level of 1.00188.
USD CHF previous Day range was 63 and Current Day Range is 19.4.
NZD USD
The NZD traded higher against USD and closed at 0.6888.
The NZD/USD pair jumped 24 pips to a session high of 0.6824 after the ratings agency S&P raised New Zealand outlook to positive from stable and left rating unchanged at AA.
According to the analysis, pair is expected to find support at 0.68352, and a fall through could take it to the next support level of 0.67826. The pair is expected to find its first resistance at 0.69257, and a rise through could take it to the next resistance level of 0.69636.
NZD USD previous day range was 90.5 and current day range is 37.1.