STIR: Near-Term Implied Fed Rates Edge Higher In Busy Week

• Stocks reversed moderate session support after the Federal Reserve held rates steady, continuing to express patience in changing rates amid ongoing tariff related pass-through inflation.
• "We'll make smarter and better decision if we wait to get a sense of the pass-through of inflation and the effects on spending, and hiring, and all those things," Chairman Powell said. Back to watching geopolitical headlines regarding Iran/Israel war.
• Currently, the DJIA trades down 17.77 points (-0.04%) at 42197.95, S&P E-Minis up 5 points (0.08%) at 6043.75, Nasdaq up 56 points (0.3%) at 19576.7.
• Gainers led by Coinbase Global climbing 15.74% after a Stablecoin bill cleared the Senate. Other leaders included TKO Group Holdings +5.41%, Caesars Entertainment +4.31%, Jabil +4.27%, Nucor +4.17% and Super Micro Computer +3.41%.
• Conversely, financial services led laggers in the second half: Mastercard -5.29%, Visa -4.48%, Paycom Software -3.63%, PayPal Holdings -3.47% and Corpay -3.06%.

Bloomberg headlines from Trump's Oval Office remarks on Iran:

"*TRUMP: I HAVEN'T MADE A DECISION WITH RESPECT TO IRAN
*TRUMP: HAVEN'T CLOSED DOOR TO CONVERSATIONS WITH IRAN
*TRUMP: POSSIBLE THAT FIGHTING NECESSARY TO BLOCK IRAN NUCLEAR
*TRUMP: JUST BECAUSE US CAN DESTROY FORDOW DOESN'T MEAN WE WILL
*TRUMP: I THINK IRAN WAS FEW WEEKS AWAY FROM A NUCLEAR WEAPON
*TRUMP: WE'RE LOOKING FOR TOTAL VICTORY, NO NUCLEAR WEAPON
*TRUMP: ENDING MIDEAST CONFLICT AS SOON AS POSSIBLE IS GOAL
*TRUMP, ASKED ABOUT LATEST ON ISRAEL: HAVING A MEETING IN HOUR" - bbg

• RES 4: 0.6700 76.4% retracement of the Sep 30 ‘24 - Apr 9 bear leg  
• RES 3: 0.6688 High Nov 7 ‘24
• RES 2: 0.6603 High Nov 11 ‘24
• RES 1: 0.6552 High June 16
• PRICE: 0.6519 @ 15:54 BST Jun 18
• SUP 1: 0.6457/6429 Low Jun 13 / 50-day EMA 
• SUP 2: 0.6357 Low May 12    
• SUP 3: 0.6275 Low Apr 14 
• SUP 4: 0.6181 Low Apr 11 

The trend set-up in AUDUSD remains bullish and the pair is holding on to the bulk of its latest gains. Key support at 0.6429, the 50-day EMA, is intact. A clear break of this EMA is required to highlight a potential short-term reversal. The pair has recently cleared a key resistance at 0.6515, the May 7 high, confirming a resumption of the uptrend. Sights are on 0.6550, a Fibonacci retracement.