GBPUSD(Sterling) sliding lower
GBPUSD(Sterling) fell lower as the dollar regained some momentum after continued weakness in recent sessions. The pair has held well following its slide below 1.3300, with 1.3230 established as a solid support. A break above the previous peak at 1.3400 first needs a move to 1.3330 to release further bullish optimism in the market. If the RSI ventures into an overbought area, a 60-pip drop would be the first target in case of a pullback.
AUDUSD falling from peak
The Australian dollar met resistance at the previous swing high of 0.6440. Successive breaks above 0.6200 and 0.6350 prompted sellers to cover their positions, leaving room for further extension. However, as a bearish divergence emerges on the RSI, 0.6320 is the next support, and bulls might need to tread carefully as the American dollar gains strength across the board. Any signs of a reversal will need to move past the second support at 0.6200.
NAS 100 bouncing back
Potential trade deals to quieten down the recent tariff war have seen the Nasdaq making up lost ground. From the chart’s perspective, the index pushed higher as it recovered from falling below the 18000 level. 18500 is where buyers have stepped in and contained the retracement as price action aims for the mid-19000 level. With a long-term bearish divergence still in play, bears will be looking for any signal of a turnaround, with 18700 being the first test.
