Intraday forex analysis covering GBPUSD , AUDUSD , and GER 40 analysis with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
GBPUSD dropping lower
The pound loses more ground after hitting a fresh peak at the mid-1.35 region. A rejection at the top has seen the RSI drift towards neutral territory, as traders await further signals.
- A confirmed break at 1.3500 could see another attempt at the previous swing low at 1.3450.
- Failing that, 1.3560 is the first resistance should the dollar show any signs of a pullback.
AUDUSD hitting resistance
The Australian dollar is peaking at long-term resistance, just short of the 0.7200 level. A surge above this target could have put the Aussie back on track against its US counterpart after a firm double top.
- As the RSI falls away from the overbought area, another rally could attract momentum buyers and propel the pair towards 0.7210.
- A bearish breakout would dent optimism and lead to a test of 0.7115, then 0.7000.
GER 40 sliding lower
GER 40 analysis shows The Dax struggles to find momentum as price action remains stuck in a bear channel. The break below 24400 suggests that bears maintain control of the direction.
- The psychological tag of 24000 at the previous low is next, as a bearish continuation favours sentiment.
- 23600 is a critical support for the index.
- Buyers will look to 24800 if sentiment shifts and prices bounce at 24000.
