USDCHF remains undecided
The US dollar softened as the pair failed to make a meaningful move, with prices remaining stuck in a consolidation. On the chart, the pair has remained under pressure after failing to break above the 0.7800 level. Prices need to hold above 0.7620 to avoid another sell-off. Otherwise, renewed buying pressure could send the pair towards the recent peak at 0.7950, with a break of 0.7800 needed.
EURGBP pushing higher
The euro remains bullish after extending the rally from the beginning of the month. A move above 0.8700 means bulls are still in charge of the price direction. For bears, a pullback would be seen as an opportunity to move to the previous swing low towards 0.8650, with a test at 0.8620 being the first target. The previous high of 0.8730 is the first target higher to keep the pair motivated to hit another fresh high.
GER 40 hitting a sticking point
The Dax has seen a remarkable surge in recent sessions as the European markets made a decent comeback. However, a bearish RSI divergence led to a rejection at the last high at 25250. Since then, prices are looking not only to fall further, but to have a complete reversal towards 24300. Any signs of exhaustion will lead to a break at 24900, which has become the immediate support in case the index takes a breather.
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