Asia Pacific IndicesAustralia 200 remains under accumulation holding 5,310 support near retesting 5,385 with next resistance on a breakout possible near 5,450. RSI above 50 and rising indicates growing upward momentum. Japan 225 is bumping up against the top of its 18,780 to 19,180 trading channel where it has been consolidating recent gains. RSI holding above 50 confirms underlying uptrend intact. Next potential resistance on a breakout near 19,225 or 19,380 both Fibonacci levels. Hong Kong 43 is holding steady, attracting support near 23,000 as it bounces up from 22,970 toward 23,090. Recent correction may have run its course. Prior high and Fibonacci resistance in place near 23,415. Hong Kong China H was steady near 10,600 but rallied from 10,580 toward 10,660 to finish yesterday with positive momentum. Next potential upside resistance in the 10,900 to 11,000 area. India 50 continues to backslide with the index falling under 8,200 which could become lower resistance with next Fibonacci support near 8,080, while RSI falling toward 50 indicates upward momentum easing and a downturn pending.
North American and European IndicesUS 30 did a round trip between 17,710 and 17,570 after the FOMC statement and appears to be advancing once again with next potential resistance near 17,810 then 18,000, although overbought RSI could limit near-term upside. US NDAQ 100 is getting overbought on the RSI and approaching resistance at its July high near 4 685. Support has moved up toward 4,645 with more near 4,600 so its underlying uptrend remains intact. US SPX 500 successfully retested 2,060 Fibonacci support and rallied right back up toward 2,085 as it breaks out over 2,080 to signal the start of a new upleg with next resistance near 2,105. Germany 30 is breaking out today, dropping from 10,880 to 10,7890 after the Fed then blasting off toward 10,920 bringing the 11,000 round number interview. RSI overbought but confirming current uptrend intact. UK 100 remains under accumulation establishing support at a higher low near 6,360, clearing 6,400 and rallying toward 6,450 with next potential resistance near 6,495 its previous high.
CommoditiesGold has a big bearish reversal underway having done a round trip from $1,160 toward $1,180 and back then breaking down and continuing to fall toward $1,155 with next support near $1,150. RSI breaking an uptrend signals momentum turning downward. Crude Oil WTI successfully retested $43.00 channel support and has bounced back up toward $43.60 initial resistance followed by $44.50. RSI suggests downward pressure may be starting to ease but it’s not out of the woods yet.
FXUS Dollar Index has decisively broken out of its 94.00 to 97.00 trading channel, driving up toward 97.80 with next resistance possible near 98.15 then 98.75 on trend. EURUSD is breaking down today, taking out the $1.1000 round number and diving down toward $1.0910 with next potential support near $1.0855 then $1.0800. Falling RSI indicates downward pressure growing with a pause possible. NZDUSD has been crushed today, diving from near $0.6720 down toward the $0.6640 to $0.6660 area breaking uptrend support. RSI falls toward 50 to signal a downturn pending. AUDUSD has turned decisively downward again, diving from near $0.7160 into the $0.7080 to $0.7110 zone on the FOMC news. RSI breaking down below 50 confirms momentum turning downward with next potential support near the $0.7000 round number. USDJPY has bounced up off of 120.00 and has climbed up toward 121.30 but remains range bound within a 118.00 to 122.00 trading channel. RSI holding 50 and rising indicates momentum turning upward. EURJPY keeps on falling, dropping from 133.60 toward the 132.00 to 132.40 area and a retest of channel support with a move toward the $1.3000 round number possible on a breakdown. CADJPY is bouncing around between 91.40 and 92.00 but remains in a downtrend of lower highs on both the pair and the RSI with next potential support near 90.60. USDSGD is breaking out to the upside today, clearing the $1.4000 round number on the pair and 50 on the RSI to signal an upturn with next potential resistance at the 50-day average near $1.4075 then $1.4130.
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