Intraday analysis covering EURUSD , USDCAD , and UK 100 hits another low, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
EURUSD looks for direction
The euro continued to fight back against the dollar after the pair bounced by more than 100 pips in recent sessions.
- As sentiment remains upbeat on the medium term, the recent move could be an opportunity for bulls to sustain a rally.
- A close above 1.1670 could attract momentum buyers and carry the euro beyond 1.1710.
- On the downside, support at 1.1600 is key to maintaining the bullish bias.
USDCAD hits resistance
The American dollar sinks after hitting a heavy rejection, leaving traders wondering if another sell-off is in play. A retest of the critical floor of 1.3800 has put buyers under renewed pressure.
- A break at the said level would open the door to the previous low around 1.3760.
- As the RSI’s neutral condition has led sellers to take some profit, 1.3730 is a critical bottom.
- 1.3870 is the first resistance and a major hurdle to lift before a possible recovery.
UK 100 hits another low
The FTSE hits a fresh low as investor sentiment remains the driving force. The current bearish rally maintained its momentum after falling by more than 300 points.
- The current pullback gives buyers time for a breather as the RSI moves into the neutral zone.
- A fall below 10250 would attract more bears and could create a correction towards 10000.
- 10400 is the key resistance to clear to resume the uptrend back towards 10545.
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