US 30 remains pressured
The US 30 retreats after falling another 500 points as indices across the board lick their wounds.
- The mood around the US 30 remains cautious, with 51500 becoming a critical support.
- A drift below 52000 put traders on the defensive, but could be an opportunity for early buyers to take profit.
- For the US 30, 52400 is the level to see if buyers will support the market.
- A break at 52400 would expose the next target at 53300, keeping the US 30 under pressure.
USDCAD hits psychological resistance
The greenback stepped back as the pair hit a new multi-week high after the Fed’s rate decision.
- Price action took a breather at 1.4000 as buyers covered their bets, forming a consolidation.
- A bearish pullback would turn the tables by confirming the ongoing overbought RSI status.
- 1.3940 then 1.3860 would be the next target lower if a reversal ensues.
EURGBP shifts higher
The euro advanced after prices jumped over 50 pips to reach a fresh high.
- With price securing a foothold towards 0.8600, bulls will look for confidence to push higher.
- Failure to break past 0.8600 will put buyers under pressure.
- A bearish breakout could trigger an extended rally past 0.8570.
- 0.8550 is a critical floor if a sharp turnaround sends prices lower.
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