The pair trades quietly ahead of FOMC Interest Rate Decision later today, widely expected to remain unchanged at 0.25%. The euro has failed to advance higher on yesterday’s attempt and continues to trade around the 1.4150 level, being supported into the 1.4080-1.4110 region. A break above 1.4200 is needed to regain strength on an intra-day basis, but only above 1.4300 will confirm that uptrend resumed and the decline to 1.4110 was corrective. On the lower zone, below the mentioned support into the 1.4080-1.4110 region, next bearish key levels are formed by the 1.4000 mark and 1.3850, lower. Downside pressure remains high as intra-day price action suggests further weakness, so keep an eye on the 1.4080-1.4110 support zone. Current exchange rate is 1.4133 @06:10 GMT

Support levels: 1.4110, 1.4080 and 1.4000
Resistance levels: 1.4200, 1.4250 and 1.4330
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish

AUDUSD

Trading strategy: stand aside

Since it failed to break above .8400 on yesterday’s attempt, the Aussie dollar turned bearish and collapsed below the minor trend line support around .8315. The 61.8% of the .8125-.8470 up leg also failed to provide a reversal point and the dollar continues to strengthen, the .8200 mark being on focus at the time of this writing. .8140 and .8085 will probably provide support on extended losses and limit the downside. Current exchange rate is .8240 @06:10 GMT

Support levels: .8200, .8140 and .8085
Resistance levels: .8300, .8350 and .8400
Market sentiment: long-term : slightly bullish, mid-term : bullish, short-term : slightly bearish

Yesterday trading strategy: stand aside

EURCHF

EURCHF 4hrs chart

Trading strategy: stand aside

Intra-day support at 1.5335 has failed to hold and the euro is back into the lower zone, erasing half of Friday’s gains. Short term sentiment remains positive and a rising trend line support is seen around 1.5290. Current exchange rate is 1.5300 @06:10 GMT

Support levels: 1.5290/00, 1.5250 and 1.5100
Resistance levels: 1.5330, 1.5380/00, 1.5500 and 1.5575
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish