The FTSE(UK 100) attempts to hit a fresh high
The FTSE(UK 100) remains bullish as bears failed in their attempts to pull prices lower. The index continues to rally as the 8800 level becomes the main resistance level. Any chance of a pullback will first need an 8720 break and then a test at 8640, which was the previous support. A further breakout higher would lead to a test at 8850 before more records are set.
NZDUSD attempts to rebound
The New Zealand dollar grinds sideways as price action develops a symmetrical triangle. Before the pattern emerged, the kiwi hit a rally, which added over 100 pips to the value. The RSI’s fall from the overbought area attracted some bargain hunters, but these sellers will need to clear 0.5950 before any hope of a full reversal. 0.6000 is the first resistance to the upside, and a break opens up the previous top at 0.6040.
USOIL tests support
WTI hit another new low with concerns over supply disruptions and the ongoing tariff war. With a bearish divergence suggesting lingering selling pressure, the price looks to have found a floor at 60.00, which is critical support. A bullish breakout could prompt sellers to bail out, which could reduce some pressure. The next hurdle to lift for buyers would be 62.50 before a recovery can materialise.
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