EUR/USD appears to have met a tough resistance in the 1.1450 region, where sits the key 100-day SMA.
Extra gains need the pair to clear this area on a sustainable note. The 1.1500 neighbourhood should then emerges as the next target.
EUR/USD should remain unchanged while underpinned by the 1.1290 area, where coincide YTD lows and the short-term support line.
The recovery in the GBP/USD pair from weekly lows of 1.3058 lost legs just shy of the 1.31 handle, as the bears keep the upside attempts capped amid the return of the Brexit deal-related uncertainty.
EU likely to reject May’s new plan, Cable could drop further to 1.3000.
All eyes on FOMC decision ahead of the UK-EU renegotiation.
UK PM May to renegotiate the Irish backstop with the EU, as Brady’s amendment was approved.
The USD/JPY pair met with some fresh supply and is currently placed at the lower end of its daily trading range.
The USD remains on the defensive amid dovish Fed expectations and does little to lend any support.
Focus remains on the latest FOMC monetary policy update and the high-level US-China trade talks.
Japanese Yen found some support from upbeat domestic data, showing that monthly retail sales jumped 1.3% y/y in December as compared to 0.8% expected but down slightly from the previous month's strong reading of 1.4%.
The one-month 25 delta risk reversals on the Aussie dollar, a gauge of calls to puts on the Australian currency, has hit the highest level since Dec. 19, indicating investors are unwinding bearish bets on the AUD. riday's settlement.
The demand for bearish bets, however, has weakened significantly in the last few weeks. This is evident from the fact that risk reversals stood at stood at -1.0 on Jan. 22 and -1.15 on Jan. 3.
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