Dax(GER 40) pushing for another high
The Dax(GER 40) hit another top as PMI figures are expected to improve across the Eurozone. On the chart, the trajectory remains elevated, and the latest push in a shorter time frame looks for fresher highs. A slight pullback in price action looks to scupper any further upside move, with 23400 being the latest resistance. A break here would confirm a bullish continuation. However, any signs of a sell-off first need a 23000 test, with 22600 on the radar.
EURUSD begins the turn around
The US dollar looks to spring back to life against the Euro as the pair attempted to move away from the 1.0900 level. On the chart, the recent drop has seen a recovery to the downside emerge, where a bearish breakout would cause a deeper correction. Continued solid selling pressure could drive the price lower, as 1.0950 at the top of the latest push is a fresh resistance. 1.0820 is the next target to the downside before a test at 1.0750.
NZDUSD eyes a rebound
The New Zealand dollar was another pair struggling against a spirited fightback from the greenback. A break below the 0.5800 level on the daily chart signals more room on the downside in the near term. The RSI’s overbought condition could attract further selling interests as bears look to push further as sentiment sinks along with the prices. 0.5740 would be the next target if the downward spiral continues.
