Trend Theme：EUR/USD: Bulls knock the door ahead of Fed.
Trend Review：EUR/USD struggles to extend two-day uptrend, sidelined of late. The major currency pair rose for the second consecutive day on Tuesday while confirming the falling wedge bullish formation on the daily chart. Confluence of 50, 100-DMA offers strong resistance, bears have multiple stops on return.
|PP||Resistance*||1.1849 *||1.1881 **||1.1920 ***|
|1.1809||Support*||1.1778 *||1.1738 **||1.1707 ***|
Trend Theme：AUD/USD: Upside remains capped below 0.7400 despite upbeat Australian CPI.
Trend Review：AUD/USD keeps its range play intact below 0.7400, although holds the higher ground on upbeat Australian CPI data. Surging covid cases in Australia and extension of Sydney lockdown caps the upside. Markets remain cautious ahead of the Fed decision.
|PP||Resistance*||0.7391 *||0.7416 **||0.7443 ***|
|0.7364||Support*||0.7338 *||0.7311 **||0.7286 ***|
Trend Theme：WTI consolidates as traders balance supply and demand risks.
Trend Review：US West Texas Intermediate (WTI) was around 0.6% down into the closing bell on Wall Street as investors fret around the risks in the new global wave of the coronavirus Delta variant to energy demand. Even though supplies are tightening and vaccination rates rising, oil cannot shake off the prospects of fresh economic shutdowns and the negative ramifications for the energy complex.
|PP||Resistance*||72.25 *||72.80 **||73.46 ***|
|71.59||Support*||71.04 *||70.38 **||69.01 ***|
Trend Theme：Gold stays defensive around $1,800, focus on Fed.
Trend Review：Gold fades corrective pullback, on a defensive mode of late. The yellow metal aptly repeats the pre-Fed trading lull, consolidates the previous day’s bounce in a tight range surrounding $1,800 amid the early Asian session on Wed.
|PP||Resistance*||1804.91 *||1810.93 **||1816.55 ***|
|1799.29||Support*||1793.27 *||1787.65 **||1781.63 ***|