FxAnalysis

USD/CAD tests key support as traders assess Fed policy direction. A bounce hints at recovery, but upcoming FOMC guidance will decide whether the pair breaks down or rallies.

NZD/USD ticked higher on Monday but remains stuck between major EMAs as markets await Wednesday’s FOMC tone. The Fed’s stance on rate cuts will likely determine the pair’s next breakout.

GBP/CHF extended its climb on Monday, testing key resistance at 1.0750 as SNB intervention fears weigh on the franc, with support seen at 1.07 and 1.0650 in a broader bullish trend.

AUD/USD showed indecision on Monday ahead of the FOMC decision, with traders watching the 0.67 level as a key breakout or rejection point amid broader US dollar uncertainty.

The S&P 500 dipped slightly on Monday as traders await clarity from the Fed, with key support near 6,800 and the broader bullish trend still intact.

EUR/USD stays relatively quiet and moves sideways at around 1.1650 in the European morning on Tuesday, after posting marginal losses on Monday.