(GER 40)The Dax breaks lower
(GER 40)The Dax remains bullish as investors eye the recent Middle East conflict amid volatile global markets. On the chart, the index gapped lower during the market open, breaking through another support to move past the 25000 level. Price action now tests the 24900 region, and a close below this level would signal renewed strength and momentum selling, driving bids towards 24680. Otherwise, a reversal gap could see a move back above 25000, leading to the recent peak at 25400.
AUDUSD inches higher
The Australian dollar continues to move higher as the pair breaks out of its recent consolidation zone. A tentative bounce off the 0.7040 area has fuelled more enthusiasm and could lay the foundation for an extension above the 0.7140 top. In the short term, the RSI is moving into bearish divergence territory, which could indicate a slowdown in momentum. 0.7000 is the first support, and 0.6930 at the base of the latest breakout is a key level in case of a deeper correction.
EURGBP continues to push
The Euro edged higher as traders expect the bullish trend to continue. After hitting the 0.8780 level, bulls are now looking for support, as prices could face tough resistance here. A turnaround at this point could see the pair wipe out its recent gains, forcing buyers to cover and sending prices towards 0.8710, a key support level that would help prevent a deep correction.
