The Kiwi experienced substantial volatility to the downside on Thursday, but managed to close trade near the monthly S1.
After reaching the weekly high yesterday, the USD/CAD currency pair dropped slightly down.
After reaching the lower Bollinger band at 0.7253, the AUD/USD currency pair bounced back and went all the way up to 0.73.
The Euro erased previous gains yesterday, as it dropped to a fresh one-week low.
XAU/USD is under heavy selling pressure at the moment, which should be enough to take the price down to the 2010 low eventually.
The US Dollar reached a daily high of 124.60 against the Yen yesterday, but was instantly pushed back down, where it stabilised at 124.07.
The GBP/USD currency pair experienced some volatility yesterday, amid mixed US fundamental data.
Bears failed to push though the weekly PP yesterday, but this does not change the bearish outlook on the Euro.
Even though the NZD/USD almost managed to reach the 20-day SMA, the pair still jumped slightly back and closed trade at 0.6655.
After experiencing strong volatility to the downside, the US Dollar eventually managed to regain the bullish momentum yesterday.
The AUD/USD currency pair barely drop back under 0.73 yesterday, as the two immediate supports slowed down the fall.
The European currency declined against the Japanese Yen yesterday, but found support in form of the 136.00 psychological level.
Because of the hawkish FOMC statement yesterday, the price for gold is highly likely to stay bearish until we hit 2010 low.
The Greenback's attempts of edging lower were nullified by a serious obstacle in form of the support cluster around 123.45.
The Cable declined on Wednesday less than expected, as the pair closed trade in front of the immediate support, namely the monthly PP.
Since there is no more threat to the resistance trend-line, the focus is now on the July low.
The NZ Dollar overperformed, as yesterday's growth exceeded the forecasted target of 0.6680, namely the weekly R1.
The American Dollar failed to appreciated and, thus, sustained heavy losses yesterday.
"It therefore seems highly unlikely that the Fed will commit itself one way or the other in its statement this evening, in order to give themselves plenty of wriggle room between now and the September meeting." - CMC Markets (based on WBP Online) Pair's Outlook The Australian Dollar outperformed its US counterpart on Tuesday, and even edged higher than the target level. As a result,
The EUR/JPY cross remained relatively unchanged on Tuesday, as it was glued to the weekly R1.
The market is in a wait-and-see mode before the FOMC statement, but later in the day we are likely to see a spike in the volatility.
Although the USD/JPY advanced on Tuesday, the 124.00 was not reached.
The Cable behaved according to the forecast yesterday, as it managed to stabilise above 1.56 major level.
Unless the Fed postpones a rate hike beyond September, the Euro is likely to start negating recent gains.