Our intraday forex analysis includes XAGUSD analysis, GBPUSD, and GER 40, highlighting key support and resistance levels for each pair.
XAGUSD remains bullish
Our XAGUSD analysis shows Silver managed to break out of its consolidation zone, with prices jumping above the 75.00 level. The next stop is breaking through the daily resistance at 78.50, which could keep the bullish run in the precious metal going.
- The RSI’s overbought condition could lead to a brief correction as sellers take their chips off the table.
- On the downside, the next psychological level at 70.00 is fresh support, with 67.00 as the next hurdle.
GBPUSD breaking higher
The pound remains optimistic as prices remain elevated, recovering some losses from last month’s downturn. On the chart, the pair is holding above 1.3400 at the top of the range, which is a critical resistance for bulls to break.
- Bulls are still eager to defend a reversal, and a pop above 1.3360 would be an encouraging sign.
- A broader rally could test the 1.3400 zone.
- A bearish breakout could trigger a sell-off towards 1.3180 at the previous swing low.
GER 40 creates massive gap
The Dax kept its foot on the pedal as risk sentiment continued to shift amid ongoing global conflicts.
- A break above 24400 will throw out some sellers and could open the door for an extended recovery.
- 25000 is the target higher, with 22800 being a critical floor if a reversal takes shape.
- The recent support at 24000 could be tested again, but strong bids are expected
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