The NZDUSD struggles to stabilise
The NZDUSD ticked lower as price action fell away from the 0.6000 level. A fall below 0.5920 has renewed the bearish pressure and put those who bought the latest bounce on the defensive. With prices nearing a triple bottom on the daily chart, 0.5860 is the next threshold to see if meaningful buying would emerge, or the Kiwi could sink towards its 12-month low of 0.5790. Only a close above 0.5940 would signal a bullish reversal, as another push towards 0.6000 would be in sight.
USDCHF looks for resistance
The US dollar continued to push higher as price action topped a multi-month high. The greenback has rallied since the news that Donald Trump will serve a second term in the White House. The psychological level of 0.9000 is now the next target to test buyers’ commitment. 0.9025 is a crucial resistance standing before a bullish continuation. On the downside, a fall below 0.8820 would put bulls’ resolve to the test by exposing 0.8750.
US 30 stuck sideways
The Dow steadied after the recent rally as prices looked to hold onto the 44000 level. As the RSI drops away from the overbought area, the base of the latest consolidation at 43750 makes it important to support the bullish bias intact. Its breach could attract more sellers into the market and trigger an exodus of buyers, sending the index back to the base of the rally at 42000.