XAUUSD aiming higher
Gold kept in the game after avoiding a move below the psychological level of 2700. The price of gold so far has found a foothold at 2740. A bullish RSI divergence shows that the sell-off has eased. 2770 is the resistance to clear to interrupt the bearish drive and lay the foundation for a sustained recovery. 2700 is the all-important support in case of a pullback.
USDCHF probes support
The US dollar attempts to fill the weekend gap after a fall away from the 0.8700 level. The pair is in search of buyers after treading water at the mid-0.8600 area. 0.8625 at the base of the last bullish breakout is the next step to see if buyers are still committed. Otherwise, a deeper correction could push the greenback below 0.8600. On the upside, the top at the recent gap of 0.8690 is a crucial level to clear to turn the short-term mood around and resume the climb.
UK 100 bounces higher
The FTSE is testing a turnaround as the index fell towards the 8000 zone. After jumping a few hundred points higher, a bullish breakout would put the remaining bears under pressure. A break above 8200 could lead to a potential bullish continuation above 8300. In the meantime, the RSI’s potential overbought condition could cause a retracement towards 8100 should intraday buyers start to take some chips off the table.
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