(UK100) FTSE pushing higher
American indices aren’t the only ones benefiting from a bullish market. The (UK100) FTSE hit another high after moving over 150 points higher. 8860 is a key level to maintain the index’s upward momentum, as its breach could trigger a pullback to test 8780, the base of the latest rally. Bulls will need to clear 8880 to put the index back on track as the RSI approaches the overbought area, potentially causing a bearish divergence in the process.
AUDUSD remains choppy
The Australian dollar remained choppy as the RBA held its interest rate at 3.85%. As the pair searches for a recovery to the previous swing high at 0.6590, a bearish RSI divergence could signal a halt to the potential rally. 0.6540 is the first level to expect some resistance after the recent announcement. Further down, 0.6480 at the bottom of the latest bounce is the first layer of support before a complete reversal can take shape back towards 0.6360.
XAUUSD steadily sinking
Gold continues to be pressured as price action made a decisive break through the 3300 level. On the chart, the metal continues to grind lower after bouncing away from the previous psychological support, bears are back in the driving seat with a $60 dive. Bulls will need to lift 3300, then 3340 to make the rebound count. Otherwise, renewed selling could send the price below 3260.
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