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"In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation."
- FOMC (based on WBP Online)
Pair's Outlook
This time the monthly PP failed to keep the Cable afloat, causing a 40-pip decline over the day. The pair's immediate support is now the weekly S1 at 1.5241, while the September low remains a major point and lies out of reach at this time. At the same time, a strong resistance cluster is represented around 1.5333, where the 20-day SMA coincides with the 200-day one, but now having the monthly PP near the major level of 1.53 on the way as well. The weekly S1, however, might still cause a gradual rebound, as it rests upon the point, which caused a substantial rally two weeks ago.
Traders' Sentiment
The share of bulls returned to its Tuesday's level of 53%, whereas the portion of buy orders edged higher to 74% (up from 61%).
© Dukascopy Bank SA