EURUSD hits resistance
The euro pulled back from its recent rally after prices hit firm resistance. On the chart, a bounce away from the 1.1600 level suggests that a correction is due after a long bullish rally. The pair has moved over 100 pips lower as the momentum ran out of steam. If the turnaround has begun, 1.1515 is the first hurdle for sellers before a potential test at 1.1450. Failing that, another move above 1.1600 could see a continuation towards 1.1630.
USDCAD hitting higher highs
The Canadian dollar attempts to reverse the recent impulse that has seen the greenback progress past the 1.3800 area. With a series of higher highs benefiting the pair, the current upside move has seen bulls regain control of the direction. 1.3840 is a fresh support, and 1.3800 is an important level to keep the upward bias intact, before the rally can extend to the daily resistance of 1.3880, as a strong bearish divergence emerges on the RSI.
UK 100 falling from its peak
The FTSE (UK100) as well as most global indices, turned lower as the fear of more tensions heightened. As the 10000 immediate support is breached, this could open a continuation of the bear rally in the next few sessions towards 9750. On the upside, a close back above 10150 could resume the small uptrend the index has seen, as buyers look for further signals in the hope of another test towards 10450.
