Dollar Declines on the eve of the meeting of the Federal Open Market Committee on Thursday

As we approach the long-awaited meeting of the Federal Open Market on Thursday against the dollar in the market bears dominate steadily since Investors expect the Fed will take a wait and see stance on the background of concerns about global economic growth. The dollar index was down 0.60% to 96.11 Friday: the trend in the reduction is gaining momentum. Earlier this morning the index overcame the resistance level of 95.19 and goes to the next at around 92.62 (a minimum of 24 of August).

the euro-dollar pair hit 1.1359 during late Asian session. This is the maximum pair on August 24 and still have the opportunity to buy at a rally before the meeting of the Committee. The single currency is preparing to test the strength of resistance at around 1.1368 (38.2% Fibonacci retracement level of the rally from the July and August), and the level of support at around 1.1262 (50% Fibonacci level).