( UK 100 )the FTSE bounces off resistance
( UK 100 )the FTSE dropped almost 100 points amid lingering doubts about a global sell-off as the Middle East conflict rages on. A fall below the previous high of 10640 suggests that the directional bias has lowered. A bounce off the latest resistance at 10450 could trigger a whipsaw, pushing the index even lower, with 10100 the current floor. A hold at the current level of 10200 could signal a turnaround, especially if the RSI dips further.
AUDUSD seeks support
The Australian dollar continues to slide as the greenback finds another spring in its step. A drop below the daily support level of 0.7100 has dented short-term optimism. The sell-off could continue if the 0.7080 level is breached, sending prices to the early March lows at 0.6960. If buying interest returns, 0.7150 is the first hurdle, with 0.7180 the next resistance as the RSI sinks towards the neutral area.
XAUUSD struggles to stabilise
Gold remains under pressure as global tensions continue to weigh on the safe-haven asset. On the chart, the 5230 area has proved to be a tough barrier to break back above. A sharp fall below 5100 has forced leveraged positions to liquidate. If the current critical support at 5000 is not held, a deep correction could unfold, as prices could open the door to a test of 4800. On the upside, a bounce past 5230 will see whether bulls will enter this undecided market.
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