USOIL WTI tests major support
USOIL WTI held ground after repeated tests at the recent support of 68.00. After the black gold sank below 69.00, the latest rebound attempts have struggled to gain traction, with 69.50 firmly established as a significant resistance. A subsequent drop below 68.00 would show a lack of commitment from buyers and could open the door to prolonged weakness, with 66.50 as the next stop. On the upside, 68.60 is the immediate resistance to clear to alleviate the bearish pressure.
AUDUSD probes resistance
The Aussie attempted an advance after bouncing from multi-month lows recently. After hitting the recent swing high at 0.6520, the price is seeking to consolidate its gains. A fall below the closest support of 0.6480 would indicate profit-taking by intraday buyers, denting the near-term mood. As the RSI drops away from overbought territory, 0.6430 at the base of the latest bullish breakout is a crucial level to maintain the rebound momentum. 0.6540 is the first resistance should the buy side start to make their way back.
UK 100 stuck consolidating
The FTSE treads water after failing to break the recent sideways channel. The index has met stiff resistance as 8300 seems to be a tricky level to break. 8230 is the closest support to keep the momentum intact, or the critical floor at 8100 would be exposed once again. A close above the said firm resistance would force short-term sellers to cover and lay the foundation for a move higher to the peak of 8380, raising the odds of a bullish continuation.
