Forex Daily Forecast, Analysis and Prediction

The Aussie dollar rallied slightly during the early hours on Wednesday, as we continue to see a lot of noisy behavior.

The British pound has gone back and forth during the trading session on Wednesday.

The NASDAQ 100 has gone back and forth during the early hours on Wednesday, as we wait for the crucial FOMC meeting and results.

The EUR/USD exchange rate drifted upwards after the Federal Reserve decision, US private payrolls, JOLTs job openings, and manufacturing numbers.

Bitcoin made a strong bearish breakout as it moved below the crucial support level at $60,000.

The Australian dollar rebounded after the relatively dovish Federal Reserve interest rate decision.

The US dollar has initially dipped against the Canadian dollar during trading on Wednesday, which makes a certain amount of sense, considering that we had shot straight up in the air during the day on Tuesday.

Support below $1.2450 area seems to be holding.

The S&P 500 has been a little bit negative early in the session on Wednesday, which makes a certain amount of sense considering that the FOMC meeting is later in the day.

The dollar resumed its advance ahead of the Federal Reserve statement later today after early week losses that had pushed GBP/USD to resistance at 1.2570 and back into its broader bearish channel to support at 1.2467 at the time of writing.

According to yesterday's trading, the Japanese yen failed to maintain its upward rebound against the US dollar and trimmed some of its sharp gains at the beginning of the trading week.

The EUR/USD price quickly gave up its gains yesterday, which reached the resistance level of 1.0735.

Gold prices settled below $2300 an ounce on Wednesday trading, hovering near a four-week low as investors turned cautious ahead of the Federal Reserve's policy decision amid concerns it will keep US interest rates high for an extended period.

Yesterday’s GDP numbers from Canada came in below expectations, which essentially put the Bank of Canada into the same difficult position the U.S Federal Reserve is battling.

Support levels are being challenged today in NZD/USD trading as another drop lower has been exhibited.