UK 100 (FTSE) extending the streak
The UK 100 (FTSE) was boosted with early rumours that ceasefire talks are ongoing to bring a close to the Middle East conflict.
- A bounce above the first resistance of 10820 prompted sellers to cover and gave the buy side more reasons to hit another high.
- 11000 is the next key hurdle to lift before the index can enjoy an extension.
- 10680 is a major level to keep the momentum valid.
- A deeper correction could send the index towards 10600 as the RSI remains majorly overbought.
AUDUSD pushing higher
The Australian dollar inched higher after breaking through the psychological 0.7000 barrier.
- Prices look set to extend further, with a spike at 0.7030, as bulls hope to keep the bullish bias intact.
- The next target at 0.7060 is an important resistance as its breach would prompt more sellers to take profit.
- On the downside, 0.6980 is the immediate support to keep the rebound momentum flowing.
- 0.6920 is a critical floor further down.
EURJPY stuck in consolidation
The euro continues to look for direction after moving away from its recent peak.
- As the price hovers around 186.50, the RSI’s venture into the overbought area could trigger a pullback.
- Sentiment remains extremely cautious, and bulls could look to keep the direction intact, with a move towards 187.00.
- Further down, the psychological level of 186.00 is a major support to monitor.
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