Intraday forex analysis covering EURUSD , AUDUSD, and US 30 analysis with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
EURUSD looking for support
The Euro recouped some losses as prices bounced away from the 1.1740 zone. Sentiment remains confused amid the ongoing Middle Eastern conflict, which is producing mixed messages from all sides. The 1.1800 has seen some rejection as the pair attempts to find a footing.
- As prices retrace, a breach at 1.1740 would dent the short-term optimism.
- A deeper retracement towards 1.1680 could draw in more sellers.
- Bulls will need to reclaim 1.1835 before a higher high can materialise.
AUDUSD losing momentum
Like most US pairs, the greenback has seen a shift in momentum. As the shift in price action exhausts, a failure to test the top at 0.7210 has put bulls on the defensive and proved this region to be a tough level to crack.
- Sentiment remains cautious, and a bearish breakout would trigger a retest at 0.7115.
- The psychological level at 0.7000 is critical as the Aussie could be vulnerable to another sell-off.
US30 heads towards a fresh peak
US 30 analysis shows Stocks and Indices have kept up the bullish rhetoric in recent sessions, as the Dow bounced back from the recent weekend gap. A break past the recent resistance of 49000 suggests bulls are firmly in control. However, there is always the concern of a reversal, which would first need 48900 for the first test.
- A convincing break below 48900 would prompt buyers to cover their positions and help sellers regain control of the direction.
- A close above 49760 would resume the upside bias.
- 48000 remains a critical floor for the index.
