The US dollar rate shows technical correction. FOMC meeting is in focus. Asian and European trading sessions:
Euro: The EUR/USD pair slipped as low as the $1.3775 mark, as investors showed less demand for the high-risk assets. Later on the euro rate returned to the $1.3820 level.
According to some experts’ opinion, the euro was overbought, and Tuesday saw just the technical correction rather than had any specific tendency.
US Dollar: On Tuesday all market participants were pressured by expectations for the results of the FRS meeting. The Federal Open Market Committee was scheduled to release its policy meeting minutes at 18:00 GMT. According to the speculations, the FRS would not give any specific ruling for the further quantitative easing measures. The FOMC members did not have the singe opinion on the necessary urgent measures aimed to support the economy rehabilitation.
British Pound: The GBP/USD pair also decreased to $1.5793 minimums during the European trading session.
The published on Tuesday UK fundamentals showed better than expected results. The UK retail prices showed increased levels for September, but were below the previous month figures. The core consumer price index turned out to be 2.7%, which was still below the previous level of 2.8%.
Japanese Yen: Japanese yen strengthened against the major currencies, as the save haven currency as well. The USD/JPY rate dropped to Y81.79.
Oil: Against the background of the US dollar strengthening, the oil rate dropped to $81.61 per barrel, but later on demonstrated some rehabilitation. Maximum has been reached at the $82.16 price per barrel.
Australian Dollar: Australian business confidence dropped to 10 in September against the previous level of 11. As a result, the Australian dollar rate decreased against all its competitors.
American trading session:
US Dollar: According to the released minutes of the FOMC meeting, most of the FOMC members were suggesting the additional economy stimulating measures. But there was no unified opinion expressed.
Technical analysis for 13/10 EURUSD
The pair returned to 1.39600 again. If this level is broken the pair will rise to 1.40690.
Resistance: 1.39600, 1.40690, 1.41780
Support: 1.38554, 1.37486, 1.35984
GBPUSD
The pair is trading below trend line 1.60322. If the pair stays below 1.58543 the pair will decline to 1.56722.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53301
USDCHF
The pair is trading between 0.96480 and 0.95510. If 0.96480 is broken the pair will rise to 0.97130. If the pair breaks 0.95510 the pair will decline to 0.94661.
Resistance: 0.96480, 0.97130, 0.97915
Support: 0.95510, 0.94661, 0.93831
USDJPY
The pair is trading below 82.219. It will bring pair to 81.162.
Resistance: 82.219, 83.330, 84.260
Support: 81.162, 79.957, 78.559
AUDUSD
The pair returned above 0.98436. If the pair closes below this level, the pair will drop to 0.97715.
Resistance: 0.98436, 0.99207, 1.00067
Support: 0.97715, 0.96392, 0.94898