EURUSD begins the turn around
The euro looks set to spring back to life against the dollar, as the pair attempts to move away from the 1.1400 level. On the chart, the recent lift has led to a recovery to the upside, with a bullish breakout signalling a continuation higher. Continued solid buying could drive the price up as 1.1630 at the top of the latest push is a fresh resistance. 1.1450 is the target to the downside if 1.1515 is broken.
NZDUSD eyes a rebound
The New Zealand dollar was another pair looking to bounce back after being pressured for the majority of last month. A break below the 0.5800 level on the daily chart signalled a continuation of the decline. However, the RSI’s oversold condition attracted some buyers, as bulls look to push further as sentiment retraces alongside prices. 0.5800 would be the next target if the turnaround continues, with 0.5885 a firm top.
GER 40 (Dax) pushing for another high
The GER 40 (Dax) hit another top as inflation figures looked steady across the Eurozone. On the chart, the trajectory remains elevated, and the latest push in a shorter time frame suggests further fresh highs. A slight pullback in price action looks to scupper any further upside move, with 23200 being the latest resistance. A break here would confirm a bullish continuation towards 24000, however, any signs of a sell-off first need a 22600 test, with 22000 on the radar.
