Intraday analysis covering USDCHF, XAUUSD (The gold) , and US 30 , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
USDCHF takes a breather
The US dollar remains bullish as prices pulled back from the recent bull rally.
- With the pair moving lower below 0.8100, sellers will be hoping for a continuation towards the psychological hurdle of 0.8000.
- A series of choppy action on the hourly chart indicates the sell-off could continue, but first needs a break at 0.8060.
- Buyers could step back to test at the previous high towards 0.8140.
XAUUSD (The gold) looking for direction
Gold remains caught in a loop as prices attempt to get back on track. The precious metal looks to be at a crossroads on the chart.
- With trading between 4100 and 4000, prices look to break free from the recent consolidation.
- As the RSI sticks to the neutral zone, 3970 is a critical floor to avoid a deep correction.
- On the flip side, with Middle Eastern tensions guiding the yellow metal, traders could see another pop above 4100 by the end of today’s session.
US30 looking to continue bull run
Traders are waiting for the next signal for the Dow as the stock market licks its wounds. With the AI and tech sell-off under control for now, prices remain consolidated.
- A push below the firm support at 52000 shows that the bull rally will fade away.
- Sentiment could turn around as the RSI looks to shoot into the overbought area.
- 51400 is the next target lower to let the bulls catch their breath, with 52800 being a heavy top if another breakout ensues.
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