USDCHF bounces higher
The US dollar held firm, with price action dipping after the recent bullish rally. The USD remains in focus as traders assess whether the latest strength can continue.
- The pair looks to hold onto gains after jumping above 0.8200, turning this into a support level.
- A further bullish breakout would pave the way for an extended move past 0.8300.
- On the downside, a fall below 0.8240 would indicate weak buying interest and send the pair to the previous low at 0.8180.
EURGBP takes a breather
The pair remains in a bullish mode after jumping over 100 pips from the beginning of the month, while the USD continues to shape broader currency-market sentiment.
- A move above 0.810 will show further buying interest to keep the euro’s edge.
- The pair needs to consolidate gains above the major floor of 0.8600 to keep the upward impetus intact.
- Any signs of exhaustion could see a break at 0.8570, with 0.8550 following closely behind.
GER 40 picks up the pace
The Dax maintained its competitive stance as prices moved away from the recent floor, while the USD remains a key driver of broader market sentiment.
- The index is attempting to pass the 25600 level but could see a slight pullback with an overbought RSI, which could indicate a slowdown.
- 26000 is the target ahead if the current resistance is broken.
- A drop below 25200 would signal lingering weakness.
- Sellers could double down and send the index lower to test the recent low below 25000.
The USD remains an important factor across the broader market as traders monitor whether its recent strength can persist.
