Intraday analysis covering USDCHF , EURGBP bounces lower price analysis, and DAX 40, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
USDCHF attempts to find support
The US dollar is poised for a revival after its recent downturn against the franc. The latest move has seen over 50 pips added to the pair as stiff buying at a new swing high encouraged bulls to add to their long positions.
- 0.7800 is a fresh support zone where offers have kept the greenback in check.
- 0.7840 is the immediate target to breach for a possible continuation.
- Bargain hunters could follow the trend and send the price to the previous high at 0.7910.
EURGBP bounces lower
The euro fell from its recent high as a heavy rejection moved prices lower.
- A test at 0.8680 has put buyers on the defensive after a previous bounce off the area led to a sell-off.
- 0.8630 is the next level to see if any meaningful selling interest continues.
- Further profit-taking could weaken demand and make the pair vulnerable to a bearish reversal towards 0.8600.
DAX 40 tests resistance
The Dax hit a fresh peak as euro stocks continue to outperform.
- A pop above 25000 kept the index moving in the same direction, confirming that the market mood remains optimistic.
- The current consolidation is an opportunity for bulls, as 24550 becomes a fresh support level.
- 25500 is the next test to see if buyers will remain in the market to push prices towards 25800.
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