EURUSD hits resistance
The dollar continues to keep its edge over the euro as prices hit another low. The pair is testing the current psychological area of 1.1600 after a heavy rejection. A bounce away from the 1.1650 level was already a sign of weakness, with the euro struggling to hold on. 1.1515 is the next level to see whether sellers have remained in the market, with the previous support at 1.1480 looking to hold firm.
XAGUSD seeks support
Silver plunged as the metal market, in general, awaits the next move amid the Iranian conflict. The metal was struggling to sustain any momentum as prices crashed through the 86.00 level. The current downturn is a sign of indecision, and a fall below 83.50 will prompt more bulls to exit. The round number of 80.00 is next to see if selling interest continues. Should the trend reverse, a bounce could lead price action back towards 96.00 by the end of this week, should the firm resistance of 90.00 be broken.
GER 40 consolidates gains
The Dax (GER 40) steadies as investors await further signals from the ECB on its next rate cut. Sentiment declined after a bounce away from the 24000 level. The rally has tempered its pace after the RSI moved back into the neutral zone, with 23600 as the first support. A bounce here would carry the bullishness back towards 24700. A bearish breakout, however, would force leverage positions out and send the price back to test 22700.
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