AUDUSD waiting for a breakout
The AUDUSD hit another brick wall as prices failed to breach the recent top.
- The latest upside move on AUDUSD stalled at 0.7050 as sentiment remains cautious.
- Profit-taking and fresh selling could weigh on price action.
- 0.6980 is the immediate support to keep the current AUDUSD trading zone intact.
- Further down, 0.6900 is a critical floor to prevent a bearish continuation.
USOIL moving higher
Oil jumped to another high as fresh tensions kept the black gold elevated.
- A surge away from the psychological level of 100.00 continues to fuel the bullish impetus.
- The RSI’s rise to the overbought zone suggests a slowdown in momentum, and a pullback cannot be ruled out.
- The previous swing low of 100.00 is the first level to test the bulls’ resolve, with 95.00 the second line of defence.
UK 100 stuck sideways
The FTSE looks indecisive after failing to clear the recent high.
- A bounce from the firm support at 10640 led to the index adding a few points.
- A bullish extension could continue the upward trajectory, with 10890 as a potential target.
- In the near term, buyers will be hoping to hold the 10640 level.
- 10560 is the next support if there is a break of the current consolidation.
