Intraday analysis covering NZDUSD, USOIL , and UK 100 hitting a fresh low, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
NZDUSD attempts to rebound
The New Zealand dollar grinds sideways as price action develops a symmetrical triangle. Before the pattern emerged, the kiwi dropped over 150 pips in value.
- The RSI’s move away from the oversold area has attracted some bargain hunters.
- Buyers will need to clear 0.5880 before any hope of a full reversal.
- 0.5940 is the target ahead to the upside, with 0.5750 a critical support.
USOIL tests support
WTI hit another new low with concerns over supply disruptions and the ongoing war.
- With a bearish divergence suggesting lingering selling pressure, the price looks to have found a floor at 87.60.
- A continued bearish breakout could prompt more buyers to send prices towards 85.00.
- The next hurdle to lift for buyers would be 92.00 before a recovery can materialise.
UK 100 hitting a fresh low
The FTSE remains bearish as indices and stocks across the board react to further escalations in the Middle East.
- The index continues to slide as the 10160 level becomes the main support.
- Any chance of a pullback will first need a 10300 break to breathe some signs of life into the index.
- A further breakout lower would lead to a test at 10000.
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