AUDUSD stuck sideways
The Australian dollar remains consolidated in a symmetrical triangle, with prices above the 70.00 level. A brief uptick could shift sentiment, and a lift back above 0.7100 is required as the RSI drifts into the neutral zone. A deeper correction would test the recent low at 0.6930, and sellers will need to keep the momentum going if prices reach a fresh low towards 0.6850.
USOIL staying positive
USOIL (WTI oil) rallies as global risks escalate, with the White House warning of potential military action against Iran. A test at the recent double top at 66.00 is stopping the rally from extending. A move back down below 64.00 could force leveraged buyers to bail out, especially if the RSI continues its road towards the overbought area. A move above the said resistance at 66.00 could see renewed buying interest, with prices looking to the recent bottom at 62.00.
US 30 stumbling forward
The Dow Jones remains subdued as a tight labour market continues to dominate. The choppy consolidation around 49600 has proved to be a tough level to crack. The price’s sharp reversal from its recent peak suggests that sellers could still have the final word. A clean cut through 50000, then 50500, will put sellers on the defensive. The RSI’s overbought condition could attract some bargain hunters to move prices out of consolidation and towards 49200.