EUR/USD could see $1.1080
The pair has recovered from its lows but the downtrend remains in place. The $1.1123 mark continues to hold as support, so a break of this is the key level to watch, as this will take us down to the rising uptrend line for the year, potentially around $1.1080.
Rallies have been firmly sold over the past few days, so this may be replicated today. Any bounce has to clear $1.12, which provided a stumbling block earlier in the week.
USD/JPY could see ¥100
The excitement in IN_USDJPY has subsided for now, after a brief spike higher. With the Fed likely to duck a move on rates, we may see dollar weakness continue, even if ‘no change’ is what everyone is expecting.
The ¥101 - ¥101.50 zone has prevented further losses over the past few weeks, but with the BoJ out of the way now might be the time when the pair gets some downward traction.
A move through ¥101 takes us back to ¥100 and potentially onwards.
USD/CAD could look to 13 September low
The pair has run up against the 200-day SMA (C$1.3254) and may be on the cusp of rolling over. Three times over the past week, the pair has tried to push on through C$1.3250 and has been beaten back, so now we look to see if the C$1.3150 area, such vital support over the same timeframe, is about to give way.
If it does, then we look to the 13 September low at C$1.3029.