The Dow (US30) tests resistance
The Dow (US30) hit another high driven by positive earnings season data. The index remains above the 44000 level, as this provides a wide swing range on the chart as bulls and bears wrestle for control. 44250 is fresh support, and renewed buying interest would pave the way towards 45000 to create another fresh peak. Selling pressure could start to reappear if price action remains in a downward trend.
AUDUSD keeps the high ground
The strength of the US dollar has taken a breather as the Aussie keeps hold of its gains. The pair has recouped losses from this month’s sell-off after bouncing away from the 0.6100 area. This is a sign that the directional bias could remain upward. Momentum buyers could double down if the Aussie closes above 0.6300. As the RSI retraces into neutral territory, 0.6230 is a fresh support level as the price enters a consolidation pattern.
NZDUSD breaks lower
The New Zealand dollar inched lower as risk appetite remained subdued across the board. On the chart, a downward channel hints at more pressure, with 0.5600 being the next target for sellers. A break here could open up the recent bottom at 0.5520. A break above the recent high of 0.5700 could trigger a runaway rally. However, with the RSI looking for direction, buyers will be hesitant that another downturn is around the corner.