USD Nervous ahead of next week's FOMC -.......>

FOREX: USD Nervous ahead of next week's FOMC

- USDJPY technicals continue to generate bearish momentum, according to the MNI

FX Technical Signal Monitor. Having breached the 108 level in early June,

recovery efforts have so far remained shallow and keeps the longer-term

downtrend intact.

- EURUSD signals have turned in the past week from balanced to a more bullish

outlook. The single currency comfortably holds above 1.13, challenging a break

of the 200-dma at 1.1364 (last close above Apr 30 2018).

- GBP maintains a balanced outlook despite the backdrop of political

uncertainty.

- AUD & NZD continue to generate outright bearish signals. AUDUSD formed a

double-top at 0.7020/25 with the subsequent retracement extending through

0.6950. Focus turns to AU employment data released tomorrow at 0130GMT.

- NZD dipped back under the 0.66 level before meeting support from the 61.8%

retracement of the May-June rally.

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