Access technical levels for major FX pairs ahead of the FOMC rate decision

It isn't typical to see as much FX volatility ahead of such a key FOMC.

Currency Markets had been particularly slow throughout August after some post-NFP correction in the US Dollar – Despite having reasons to sell the USD further, particularly after Powell's dovish speech at Jackson Hole, end-summer slow trading largely contained volatility for fiat majors.

To catch up with the volatility seen in Equities (which kept flying higher throughout that entire period), the US Dollar took a two-day downward train to start this week.

The greenback saw close to 1% moves in Monday and yesterday's consecutive sessions against European currencies particularly – The widest range throughout the whole FX Market between the 12th of August to last Friday had been ~0.50%.

As explained in our previous piece, except for a huge switch of fundamentals and/or a leak to an upcoming decision, it is rare that players accelerate such volatility ahead of the FOMC.

The only reasoning would be strong and sudden hedging that corroborates with Miran entering the FOMC meeting right before its start.

Anyways, let's have a look at technical levels for all FX major pairs as the market gets ready for the FOMC decision (and the Bank of Canada rate decision, releasing very soon – we will update the levels on a new piece).

Watch how the Dollar broke lower this Monday after resisting in a range throughout the entire past month – You can check out our most recent DXY analysis right here.

Read More:

• Fed (FOMC) Meeting Preview: 25 bps Cut Appears Baked In, Forward Guidance Is Key. Implications for the DXY, Dow Jones and S&P 500
• Dow Jones (DJIA) Technical: Resting at key support ahead of FOMC, watch the US Treasury yield curve to trigger a bullish move
• Markets Today: UK Inflation Sticky, Gold Prices Retreat, FTSE 100 Hovers at 200-Day MA Ahead of FOMC Decision

Trading Levels for NZDUSD:

Resistance Levels

• Immediate Resistance 0.60
• Next Resistance 0.6060
• July 1st Highs 0.6120

Support Levels

• 0.5950 Main Pivot (acting as immediate support)
• 0.59 (+/- 150 pips) Support
• 0.58 Key Support

You can access an in-depth USDJPY analysis right here, released earlier today!

Levels to watch for USDJPY:

Resistance Levels

• Mid-range pivot 147.50 to 148.00
• May Range Extremes 148.70 to 149.50
• 150.00 psychological resistance
• 150.90 July highs

Support Levels

• 146.50 range support (testing)
• 145.00 psychological support
• 142.35 low of the May range, main support

You can access one of our most recent analysis for AUDUSD right here (chart is from Monday) – Watch the RSI which is starting to shape downwards.

AUDUSD Trading Levels:

Resistance Levels

• US CPI highs 0.6690 (2025 highs)
• Daily resistance 0.6670 to 0.6740
• 0.69 zone main resistance (+/- 150 pips)

Support Levels

• July Highs 0.66250 (+/- 100 pips) acting as key pivot and support
• 0.6510 to 0.6530 support (confluence with 50-day MA)
• 0.6420 August 22, 2025 lows (pre-Jackson Hole conference)
• Daily Support 0.63 to 0.64

You can check out our Monday EURUSD Analysis which preceded a huge breakout to new highs – The fundamentals are still valid despite the new levels.

Levels to watch for EURUSD:

Resistance Levels:

• 2025 highs 1.1880
• Main resistance turned pivot 1.18 to 1.1830 (yearly highs)
• 1.20 psychological level and 2021 highs

Support Levels:

• 1.1750 Intermediate Pivot (+/- 150 pips)
• 1.1650 Key support
• 1.16 Main support
• 1.1470 Pivotal Support (bearish below this)

Here is our latest in-depth analysis of the USDCHF (from yesterday) that was published as things were moving aggressively. Despite new lows being reached, the analysis is still valid!

Levels to watch for USDCHF:

Resistance Levels

• 0.7950 Key pivot
• Long-term pivot 0.80 Zone (0.80 to 0.8010)
• Main resistance 0.8150 to 0.82 (last highs 0.8165)
• May 2025 highs 0.8475 Resistance Zone

Support Levels

• 0.78575 2025 lows Support
• 0.77 to 0.7735 August 2011 lows
• 0.76 Psychological level

Levels to watch for GBPUSD:

Resistance Levels

• 2025 precise high 1.3788
• 2025 Highs resistance 1.3760 to 1.38
• Resistance 1.37 Zone (immediate resistance)

Support Levels

• Resistance turned pivot at the 1.36 zone
• Support Zone 1.35
• 1.34 Support Zone

An update to the chart will be presented in an upcoming piece: Mid-Week NA Markets update with a detailed USDCAD analysis inside. Here is the BoC statement.

Levels to watch for USDCAD:

Resistance Levels

• 1.38 Handle +/- 150 pips
• 1.3850 to 1.3860 Main resistance
• 1.3925 Aug 22 highs

Support Levels

• Key longer-term pivot turned support 1.3750 (currently testing)
• 1.3660 intermediate support
• 1.3550 Main 2025 Support

Safe Trades as the FOMC approaches!

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