Intraday forex analysis covering USDCHF , XAUUSD, and UK 100 analysis with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
USDCHF pushes higher
The dollar maintains its hold over the franc as the markets continue the sentiment shift. On the chart, a break past the latest resistance at 0.7800 has seen another 40 pips added to the pair.
- A touch at 0.7840 has met resistance, with buyers considering another charge higher.
- On the downside, 0.7780 is the first hurdle for bears to crack.
- 0.7720 is a critical floor with a bearish divergence emerging on the RSI.
XAUUSD hits resistance
Gold gained some ground from its recent slump as traders assess if the much-anticipated fightback has begun.
- The price is striving to hold above 4700 with the RSI moving away from the neutral zone.
- The bearish mood remains intact, with price action targeting the next target at 4600.
- The previous resistance at 4780 is the first level to see if buyers will re-emerge.
- 4880 at the top of the previous swing is the target higher.
UK 100 hitting multi-week lows
UK 100 analysis shows The FTSE was another index reeling from the ongoing conflict as prices hit another fresh low. The index is looking to avoid further losses, as a bounce at 10440 prompted sellers to trim their positions, easing downward pressure.
- With a bullish divergence emerging on the RSI, the bearish rally could slow.
- 10520 would be the first resistance hurdle with 10700 on the horizon.
- 10350 is a critical support should 10440 break.
