USDCAD fails at recovery
The Canadian dollar continues to recoup losses after spiking towards 1.3700 in recent sessions. On the chart, the pair is recovering to the downside as prices move to test the previous bottom at 1.3620. A break below the said level could extend the bear rally, as 1.3500 becomes a critical support while the RSI hovers near the neutral area. A move above 1.3700 is needed to break the recent consolidation and send the pair higher.
NZDUSD jumps higher
The New Zealand dollar rose as prices began to rebound. The pair has been grinding at the recent level of 0.5900, and a break higher could prompt sellers to look to exit. As the kiwi strives to maintain momentum, 0.5950 is a key level to watch for follow-through and the first barrier to overcome before the uptrend can resume. Otherwise, the gate would open on a drop below 0.5880, then 0.5820.
UK 100 bearish reversal underway
The FTSE 100 treads water amid ongoing geopolitical developments. The RSI’s double bottom in the oversold zone is a sign of overextension and could create a bullish divergence, which could move prices higher. As the index remains subdued, the 10450 area appears to be the first support hurdle if prices continue lower. 10700 is the key target in the event of a turnaround in fortunes, bringing price action higher in the near term.