U.S. Dollar Remains Unmoved Ahead of The FOMC Meeting

The U.S. dollar ended the trading day virtually unchanged against the British pound after the support around 1.4070 has proved to hold – at least for now.

Trading was also relatively quiet in the EUR/USD with the pair fluctuating within a narrow 40-pips-range between 1.2130 and 1.2095. The performance of this pair will now mainly hinge on the demand for U.S. dollars.

DAX: The index tested the 15800-mark while our long entry proved profitable. We now see a next hurdle at 15850 which needs to be broken before the focus shifts towards higher targets. On the downside, we see a current support at around 15500.

Today at 12:30 UTC we will keep an eye on the U.S. Retail Sales report which could impact the greenback ahead of tomorrow’s FOMC decision.

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