(US 30) Dow Jones continues bull run
The (US 30) Dow Jones hit another fresh peak as the recent ceasefire looks to remain intact for now. First, a push above the heavy resistance at 43000 showed that the bull rally could continue down to 43400. Sentiment could turn around as the RSI shoots into the overbought area. 42800 is the closest support to let the bulls catch their breath if the 43000 level is firmly broken.
USDCHF hits another low
The US dollar remains subdued as prices fell through the previous firm support. With the pair moving lower below 0.8070, sellers will be hoping for a continuation past the psychological hurdle of 0.8000. A series of choppy action on the hourly chart indicates the sell-off could continue. Any chance of a turnaround would need buyers to step in to recover 0.8100 and then a test at the previous high towards 0.8200.
XAUUSD finds support
Gold remains caught in a loop as prices attempt to get back on track. The precious metal is at a crossroads on the chart, trading between the double bottom of 3300 and the area of congestion formed by the support-turned-resistance of 3330. As the RSI goes oversold, 3315 is a critical floor to avoid a deeper correction. On the flip side, with Middle Eastern tensions guiding the yellow metal, traders could see another pop above 3380 by the end of today’s session.
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