USDCAD losing momentum
The Canadian dollar (USDCAD) continues to gain over the greenback after pushing past the 1.3800 level.
- The pair looks to move away from its recent top around 1.3940.
- A series of lower lows suggests mounting buying pressure.
- 1.3760 is the next support, and its breach could attract momentum sellers and trigger an extended rally below 1.3700.
- On the upside, 1.3850 is the immediate resistance.
EURGBP looking for direction
The euro struggles to gain any traction over the pound as the pair awaits the next signal from the European Central Bank.
- The price has been drifting lower since it hit resistance around 0.8600.
- The RSI’s drop away from the overbought area has brought in some bargain hunters.
- Buyers will need to clear the 0.8600 level before a sustained recovery can take shape.
- Otherwise, the euro could be vulnerable to a sell-off and a further decline below 0.8550.
US 30 remains pressured
The Dow bounces lower as indices fall across the board.
- The current sell-off has seen many buyers bail out, with the Dow losing over 1000 points.
- A possible bullish divergence on the RSI could see firm support at 52800.
- 53300 is fresh resistance, but a fall below the 52800 support opens up a test at 52500.
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