USOIL remains bullish
Oil (USOIL) progressed higher after hitting further multi-month highs.
- On the chart, a new high above 98.00 has kept the commodity in a bullish channel.
- A broader extension is underway, with the psychological level of 100.00 as the next target.
- As buyers could look to take profit, 94.00 becomes the first support as oil continues its chaotic journey.
AUDUSD remains pressured
The greenback continued to rally as positive sentiment toward the US dollar persists.
- With prices falling to multi-week lows, a clean cut below 0.7000 forced early buyers to bail out.
- As 100 pips are wiped off the pair, a continuation lower is likely if the 0.6900 level breaks.
- Buyers could be looking for a turnaround, and 0.6950 is the first target for a potential move towards 0.7010.
GBPUSD heading north
Cable ignored the news of a progressive dollar as the pair jumped over 100 pips.
- A move above the recent resistance at 1.3200 indicates that bulls mean business.
- On the downside, 1.3150 is the target if sellers reemerge once the market settles.
- Resistance at 1.3280 is the first hurdle for a continuation, as sterling aims to outshine the greenback.
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