WTI (USOIL) breaks previous swing high
WTI (USOIL) bounces higher as the turnaround in sentiment continues. On the chart, the price has recently peaked above the recent resistance at 68.00. A move above 68.60 will send sellers packing and set the stage for another leg higher, with 70.00 as the next target. 66.50 is the support to gauge the strength of follow-up bids in case of a pullback, and 65.80 is a key level to keep the upward bias intact in the near term.
AUDUSD breaking the low
The Australian dollar attempted to gain some momentum after the recent 100-pip sell-off. Price action seems to have gained a secure footing around 0.6260 as the pair begins a consolidation phase. This is a significant area for bulls to fight back and safeguard an uptrend, as a bearish breakout opens the door to a fall towards 0.6200. 0.6350 is the first hurdle on the hourly chart, and its breach would reduce selling pressure. Further up, 0.6420 looks to be limited before a broader recovery takes shape.
XAUUSD looking for double top
Gold remains heightened after managing to stay above the psychological $3000 level. A pop above the immediate resistance of 3030 prompted buyers to attract more buyers as the price moves towards the recent record high. 3060 is the next target, with a move to 3075 on the radar. However, a bearish reversal would clear the path for a move past 3000 as the RSI remains continuously overbought.