EURUSD on the comeback trail
The Euro bounced back after weeks of declines, sending the pair to multi-month lows. As the RSI developed a bullish divergence, prices reversed the trend, moving away from the 1.1515 bottom as more buyers entered the market. As the dollar consolidates ahead of this week’s inflation data, the 1.1650 level has now become the new resistance. A sharp break above this zone could send the pair higher towards 1.1700.
XAUUSD testing resistance
Gold attempts to break free of its recent choppy consolidation, but the 5200 level remains a tough nut to crack. The bullish stance remains and could extend to the next target for bulls at 5400. The yellow metal will now begin testing a potential triple top if a retracement does not occur. However, an overbought RSI could cause a temporary pullback towards 5000 with bulls looking for support if the price does collapse.
USOIL falls lower
WTI crude slipped further as prices fell away from their multi-year high. The black gold is now under selling pressure, with 84.00 testing firm support. A dip below this price could begin a further bearish run back towards 80.00. On the upside, 88.00 is the first hurdle to see if buyers will step in. The RSI’s oversold dip could lead to some profit-taking, but a climb towards the psychological 100.00 zone isn’t out of the question, as price action remains very volatile.
![Credit Card 160×600 [EN]](https://assets.iorbex.com/blog/wp-content/uploads/2023/06/13144507/Blog-Banner_EN-Banner_160X600X2.webp)
