DAX 40 Drops To 4-Month Low Ahead Of Today's FOMC Meeting As AUD/USD Hits 11-Month High And Copper Price Rises.

2025-09-17 02:27:32

(MENAFN- DailyFX (IG)) Overnight summary

Global markets traded cautiously ahead of the Federal Reserve's (Fed) expected rate cut, with Wall Street dipping slightly, Europe posting its steepest drop in nearly a month, Asia holding steady, volatility rising, and UK inflation slowing.

DAX 40 slips to near 4-month low

The DAX 40's fall through its August low at 23,381 doesn't bode well for the bulls with the June low at 23,052 representing a possible downside target.

This scenario will remain in play while no bullish reversal takes the German blue chip index above Monday's high at 23,855.

Immediate resistance sits at the early August low at 23,381 and more resistance around the 2 September low at 23,483.

DAX 40 daily candlestick chart Source: TradingView AUD/USD trades in 11-month highs

AUD/USD continues its steady ascent, trading at levels last seen in October 2024, whilst being short-term capped around its November 2024 peak at $0.6688.

Once bettered, the $0.6698-to-$0.6714 area will be in focus. It consists of the May-to-June 2024 highs.

Minor support below the 11 September high at $0.6665 can be spotted around the July peak at $0.6625.

AUD/USD daily candlestick chart Source: TradingView Copper range trades below 6-week high

The copper price continues its gradual rise but currently seems to pause below Monday's $4.7260 high.

If bettered, the 200-day simple moving average (SMA) at $4.7829 would be in focus.

Minor support is seen between the mid-August high and 2 September low at $4.5483-to-$4.5410.

Copper daily candlestick chart Source: TradingView Important to know

^{This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary .}

MENAFN17092025000076011015ID1110075776

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.