Last week’s updated Federal Reserve dot plot, suggesting two US interest rate increases in 2023, could be a game-changer for EUR/USD. Strategically, a long-term trend lower may have now begun.

Although the Fed hawkish bias has caused some reflationary position unwinding and anxiety about the outlook for commodities, the fundamental picture for oil has not changed and remains bullish.

USD soars following hawkish Fed, rally looking overextended however.

A short-term ascending channel is under threat after Bitcoin’s first attempt to break through a stubborn resistance zone failed

The Australian Dollar sank against the US Dollar after the FOMC sent a hawkish policy signal. AUD/USD faces a new headwind in the form of a charged US Dollar.

The Bank of England (BoE) interest rate decision may do little to sway GBP/USD as the central bank is widely expected to retain the current course for monetary policy.