Intraday forex analysis covering NZDUSD , XAUUSD analysis , and UK 100 with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
NZDUSD remains heightened
The New Zealand spiked to a weekly low, as prices remain under pressure following the 100-pip downswing.
- Any further profit-taking could pull the kiwi towards 0.5800, a key support level that could halt the sell-off.
- A beach at 0.5800 could open the door to a bearish continuation towards 0.5740.
- should the current bullish divergence on the RSI increase, 0.5850 is the first target higher.
XAUUSD bulls rush in
XAUUSD analysis Safe-haven gold is showing a slight turnaround amid ongoing concerns about further global tensions. Following a brief consolidation, a pop above 4550 could start a new round of rally.
- As sentiment remains bearish, the recent monthly low towards 4480 would be the next target.
- The RSI’s oversold situation could temporarily push the price higher.
- 4580 would be the first test, and then 4700 in case of an extension.
UK 100 breaks descending channel
The FTSE continues to hit lower lows as the index attempts to shrug off its six-day losing streak. As the index approaches 10160, growing resistance could be felt amid profit-taking and renewed selling.
- 10300 becomes the immediate hurdle higher, as price action looks for a reprieve.
- A close above 10400 could signal the start of an upward trend towards 10540.
