EURUSD (The euro) sees limited pullback
EURUSD (The euro) continues to retreat after failing to break back above the recent high, which saw prices push towards a fresh peak.
- The pair bounced off the support zone at 1.1380 as the RSI bounced away from the oversold region.
- Further resistance at the 1.1460 region would send the euro lower, breaking the previous support zone.
- A successful bounce and a close below 1.1380 would commit more sellers and push the pair towards 1.1300.
NZDUSD tests key resistance area
The New Zealand dollar attempts to continue its progression as the pair jumps over 100 pips in recent sessions.
- The price was moving towards the previous swing high at 0.5800, which, if broken, opens another 50-pip jump.
- Still, the recent bounce could be a sign of bearish pressure building since the market open.
- A decisive break below 0.5700 would force the remaining buyers out and open the door to a test at the previous swing low of 0.5660.
US30 recapturing the recent high
The Dow steadies as traders await more news of a jump in tech stocks, and then the next step in the Middle Eastern conflcit.
- A close above the daily resistance of 53000 would help bulls regain control of the direction.
- A confirmation past this level would lead to the index gearing up for another attempt at a record high above 53400.
- The recent dip at 52200 is the first support, and 51600 is the bulls’ second layer of defence.