FTSE100 Index (UK 100) falls from peak
The FTSE100 Index failed to revive its spirits after falling from the recent 8400 level. The index is seeking support around 8250, which is critical to keeping the early month’s rally intact. The RSI’s neutral situation attracted some buying interests, as sentiment remains cautious as the bulls attempt to clear the 8300 zone. On the downside, 8200 is a critical level to prevent a bearish continuation in the short term.
USDJPY looks for resistance
The yen made a slight pullback after weeks of dominance from the greenback. Traders have been on their toes as the pair slowly attempts its way back to the psychological 150.00. A rejection at the recent peak saw prices move lower, which threw out a number of short-term positions. From the daily chart’s perspective, 151.40 now becomes dynamic support, and the bulls will see their control seriously challenged if the price falls into the 151.00-149.80 range.
AUDUSD breaks lower
The Australian dollar slid as PMI numbers failed to lift the pair. After prices fell past 0.6700, a fall below 0.6630 invalidated the latest rebound and suggested that the bears were still in the driver’s seat. The base of September’s rally at the current level is critical to see if bulls will make their way back. 0.6670 would be the first obstacle to lift before they could push back. Otherwise, the fear of catching a falling knife could amplify losses and send the Aussie to a multi-month low at 0.6400.
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