Dow 30 index (US 30) looking for bids
The Dow 30 index remained subdued after failing to recapture its recent record high. As sentiment is still cautious, a limited bounce above 43000 could give bulls what they need to re-enter the market and push for a fresh peak. On the chart, 42900 is a fresh resistance, and only its breach would prompt more sellers to cover and ease the bearish pressure. On the downside, a fall below 42400 would trigger a new round of sell-off and send the index to the previous consolidation at 42000.
GBPUSD looks for support
The pound, like many other of the dollar’s competitors, continues to fall lower. The pair is looking to find a bottom after the continuous downward progression since the beginning of October. However, traders buying the dip have triggered a bounce off 1.2950, confirming a bullish divergence on the RSI. A close above 1.3025 would extend the rebound above 1.3100, where a bullish breakout could open the door to a sustained recovery.
USDCAD breaks higher
The Canadian dollar slid further as price action aimed towards the yearly high at 1.3950. A clean break above 1.3700 forced sellers to cover, fuelling the bullish momentum and foreshadowing a potential bullish continuation in the days to come. 1.3800 is now fresh support, and 1.3850 is the intermediate hurdle to lift before the pair can test August’s peak above 1.3900.
