Intraday analysis covering EURUSD, NZDUSD, and US 30 breaks higher, focusing on short-term price action, key support and resistance levels, and intraday market momentum across major instruments.
EURUSD bounces higher
The euro looks to turn things around after the recent 100-pip sell-off.
- After bouncing off the daily swing low at 1.1680, the pair is striving to hold above 1.1700.
- A close above 1.1760 would signal that buyers remain committed, potentially giving bulls a decisive edge.
- 1.1640 is a major floor with another test at 1.1600 expected if the sell-off continues.
NZDUSD aiming for a triple top
The kiwi has gained more momentum over the kiwi as the pair attempts to halt its downward progression since the beginning of the month. 0.5930 has again proved to be a tough level to crack after the first two bullish attempts.
- A drop below the recent support at 0.5855 could prompt buyers to bail out.
- 0.5800 is a critical bottom to prevent a deep correction.
- A move above 0.5930 could signal a bullish continuation towards 0.6000.
US 30 breaks higher
The Dow Jones looks to recoup its recent losses with a hold above 49000. The index is in a wait-and-see mode, with traders reluctant to take excessive risks ahead of further White House announcements.
- On the chart, a close above 49400 would be a sign that the market’s optimism has taken hold.
- A brief consolidation has allowed bulls to hold on to their gains.
- 49800 at the recent swing high would be the bulls’ second target to complete the turnaround.
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