EUR/USD, NZD/USD and USD/JPY in the Weeks before the FOMC Interest Rate Decision

EUR/USD reached the resistance of the range at 1.06664 where it formed a double top and started falling towards the support. I think the pair will soon test the support around 1.05200 - 1.05000, but I doubt it will fall much below that level.

I expect a new move to the upside within the established range and for the consolidation to continue up until mid-December.

NZD/USD reached the trendline it broke below on the weekly time frame, and, as we could have expected, started falling again.

Despite that I think that the move to the upside will continue and the pair will keep oscillating around the trendline until mid-December again, when we will find out whether FOMC will hike the interest rate or not.

USD/JPY, on the other hand, has been rising for two days now after a small correction to the downside and at the moment it is above 113.500, which is close to the last high formed on the 25th November at the 113.895 level.

I think it is possible for the pair to continue rising towards 115.000 – 115.200, which is a strong resistance zone on the monthly time frame.

If the pair does succeed in breaking above that zone and the breakout is confirmed we could see it rise towards 115.500 – 116.000.