AUDUSD hits double top
The Australian dollar (AUDUSD) continued its rally as the pair moved over 100 pips higher.
- Prices hope to find steady ground above 0.7000 after breaking the previous resistance.
- The next level at 0.7010 is the immediate resistance, which has formed a double top.
- A confirmed breach at the said level would push prices toward the next swing high above 0.7080.
- Otherwise, a fall below 0.6980 would trigger a reversal towards 0.6900.
XAUUSD holding ground
Gold trades slightly higher as prices gear up for another charge at fresh highs.
- A failure to hold above 4150 will put buyers on the defensive.
- The precious metal continues to look for the next signal.
- 4100 at the base of the latest drop is a firm threshold to see if buying interest continues.
- Bulls will need to clear 4220 to regain control.
UK 100 grinds support
The FTSE continues grinding higher after a firm bounce.
- On the chart, the price remains bullish with the recent jump.
- Buyers are preparing for a possible test at the latest peak of 10890.
- A rise above this specified zone indicates an interest in putting the index back on track towards 11000.
- On the flip side, stiff selling could be expected from profit-taking, with 10650 as the first support to prevent a deep reversal.
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