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Key technical levels to watch on forex majors ahead of the FOMC
As we move into FOMC day, the markets have become characteristically settled. This will often be seen due to the potential volatility surrounding the aftermath of the decision tonight (at 1900BST). It is interesting that prices of commodities have also started to see the selling pressure easing in the past 24 hours. Perhaps due to the liquidity easing measures from the PBOC, or maybe due to the FOMC tonight, but the price of oil has picked up for the first time in almost two weeks, whilst gold has settled. Furthermore, the incredibly weak US Consumer Confidence data also seems to have taken the shine off the dollar ... (full story)