(UK 100) FTSE extending the record
The (UK 100) FTSE was boosted by early rumours that trade deals within the EU are close to completion. A bounce above the first resistance level of 9000 prompted short-term sellers to cover, giving the buy side more reasons to hit another record. 9150 is the next key hurdle to overcome before the index can enjoy an extension. 9040 is a key level to maintain momentum, as a deeper correction could send the index to 8880, given the RSI remains significantly overbought.
AUDUSD pushing higher
The Australian dollar inched higher after breaking through the psychological 0.6600 barrier. Prices are expected to extend further, with a potential spike at 0.6630, aiming to maintain the bullish bias. The next target at 0.6700 is a crucial resistance level, as its breach would prompt more sellers to take profit and ease the pressure. On the downside, 0.6520 serves as immediate support to maintain the rebound momentum, and 0.6450 represents a critical floor further down.
EURJPY stuck in consolidation
The euro continues to look for direction after moving away from its recent peak. As the price hovers around 172.00, the daily RSI’s venture into the oversold area could cause a spike higher if sellers are reluctant to show their commitment. Sentiment remains extremely cautious, and bulls could look to maintain the direction, with a move above 172.50. Further down, the psychological level of 170.00 serves as a major support level to monitor.
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