EUR/USD: Focus on FOMC meeting

*EUR/USD: Focus on FOMC meeting at 1915 GMT*
The Euro is holding near 10-week highs this morning as the currency
keeps higher overnight. The common currency opened near 1.3680 in Asia
and has held firm overnight. The high of US trade was 1.3702 as the
euro eyes resistance at 1.3735.

However, expect the Euro to come under serious pressure today as the
Fed meets later today (1915 GMT) to discuss the latest FOMC Interest
Rate Decision.

*GBP/USD: Targeting new levels after major decline yesterday*
This time yesterday, we focused on the sterling holding above 1.60.
However, little did traders suspect that the UK GDP would appear to be
much worse than expected. Preliminary GDP was forecast at 0.5%, but
came out at -0.5%, a sharp contrast. This difference in expectation
and the fall of Sterling against the Euro for a sixth straight day has
pushed cable lower heading into today's session.

Cable is trading at 1.5810 shortly before European open with
resistance now seen at 1.5845. Support is around the 1.5750 mark. UK
policy makers will meet later this morning to discuss the minutes from
the previous meeting. There is not expected to be much change. The Fed
meeting this evening will also be in traders' minds.

*USD/JPY: Holding steady this morning*
USD/JPY pushed lower during the night but failed to break out of a
tight 82-82.30 range. The currency is hovering at 82.10 heading into
the European open.

Resistance is seen at 82.40 with support at 81.85

*NZD/USD: BNZ looking to keep interest rates unchanged at 3.00%*
The New Zealand Dollar pushed higher overnight, trading at 0.7690 this
morning. The pair are likely to break 77cents sometime today ahead of
the Bank of New Zealand Interest Rate Decision at 2000 GMT. The Bank
is likely to keep rates unchanged at 3.00% but we will see if the Kiki
can hold onto gains ahead of the meeting.

*Trade of the Day: NOK Interest Rate Decision*
Despite the big news out of America and New Zealand today concerning
interest rates, they are not alone in discussing monetary policy. The
Norges Bank, Norway's Central Bank, meets at 1300GMT today to
discuss its latest interest rate decision. It is highly unlikely that
the bank will change its rate of 2.00%, but trading will be choppy
with USD/NOK and EUR/NOK likely to make moves before and after the
meeting.
Source: Fxstreet.com