AUDUSD clawing back losses
The AUDUSD looked to halt the sell-off as prices found some support.
- The pair has remained under pressure after falling over 100 pips.
- A move below 0.6860 would make the pair vulnerable to another sell-off.
- 0.6800 becomes a possible target if sellers return to the market.
- 0.6940 is the first resistance in case of a continuation, and 0.7020 is a firm top.
USOIL turns around
Oil remains bearish, with the possibility of peace talks continuing to stop the Middle East conflict.
- The double bottom and immediate support at 86.60 has stopped the black gold from correcting.
- A close above 94.00 could attract more buyers and possibly move oil towards the 100.00 region.
- If 86.60 is broken, the sell-off could continue towards 85.00 as the RSI bounces off the oversold zone.
SPX 500 shoots higher
The S&P, as well as the other US indices, moved higher as traders moved back into tech shares as oil fell lower.
- 7400 at the base of the bullish extension is a key level to see if prices continue higher.
- Any exposure lower would open the door to 7300, should momentum quieten down.
- 7600 is the first hurdle to clear to set another milestone towards 7720.
