Intraday analysis covering USDCHF(the franc) , EURJPY , and US30 , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
USDCHF(the franc) remains indecisive
The Dollar found more resistance as price action attempts to recover from yesterday’s slump.
- After a slight progression, a sharp turnaround saw sellers step back into the frame.
- Bulls will need to remain above 0.8060 before a recovery can materialise towards 0.8150.
- 0.8060 is fresh support, and its breach would invalidate any rebound and send the pair to a new low around 0.8000.
EURJPY hits another top
The Euro looks set to continue the rally after adding over 100 pips since the beginning of the week.
- Bulls have doubled down after reaching the previous peak of 185.10, resuming the uptrend with 186.00 as the next milestone ahead.
- The RSI’s new top in the overbought zone could lead to a temporary pullback, and 185.10 is the first support level if sellers enter the market.
- 184.50 at the base of the recent bounce would be a crucial level to maintain the momentum.
US 30 stuck in consolidation
The Dow Jones maintains its sideways stance, with price action remaining undecided.
- The index is pulling back from its recent peak just below 52800 and is now testing 52500, with the RSI dropping back into the neutral area.
- A bearish breakout would force leveraged long positions to liquidate and lead to a correction towards 51800 at the base of the recent bottom.
- However, sentiment generally remains upbeat, and bulls would be looking for a stable entry point.
- A close back above 5300 could put the index back on track for a test at 53400.
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