(USOIL) Crude aiming for $100
(USOIL) Crude fell lower as the $100 level seems to be a tough level to crack. A bounce away from the said zone indicated that sentiment remains subdued. With prices slipping lower, a hold at 92.00 is needed to prevent another downturn. Clearing the immediate resistance will ease short-term downward pressure and could help bulls regain some confidence. 85.00 is the first support, if prices fall lower, with 80.00 being a critical floor.
USDCHF hitting higher highs
The US dollar looks to capitalise on its strength after continuing its bullish ascent. Although the recent pullback below 0.7900 offered some hope of a reprieve for the franc, buyers were keen to show their presence as price action hovers around that area. 0.7910 now becomes a fresh resistance, and a close above this level could extend gains towards 0.7960. The recent swing low of 0.7860 is a critical support to prevent a sell-off towards 0.7750.
USDCAD pushing for a peak
The Canadian dollar softens as sentiment follows the greenback. On the chart, the US dollar’s bounce near 1.3660 has kept prices in a steady bullish channel. An attempt above the psychological level of 1.3700 has prompted some sellers to cover their positions. If the pair falls back in search of follow-up bids, a small consolidation could emerge at the 1.3550 level. A rally back above 1.3740 would open the path to the first daily resistance at 1.3800.