Will Fed rate cuts provide further upside for US500?US 500CAPITALCOM:US500inkicho_exness On the eve of the FOMC meeting, US indices traded cautiously as stronger August retail sales reignited concerns over inflation risks. Retail sales rose 0.6% MoM, beating the 0.3% consensus. Charles Schwab noted that despite weak August jobs data, consumer spending remains resilient, supporting Q3 growth. Industrial production also surprised to the upside at 0.1% (cons. -0.1%), with manufacturing output—the largest component—up 0.2% on a rebound in autos. US500 remains within the ascending channel, maintaining a steady uptrend. The widening gap between both EMAs suggests the potential continuation of bullish momentum. If US500 holds above both EMAs, the index may gain upward momentum toward the psychological resistance at 6700. Conversely, if US500 breaks below the 6530 support, the index could retreat toward 6340.