AUDUSD clawing back losses
The Australian dollar looked to halt the sell-off as prices found some support. The pair has remained under pressure after it fell below the 0.6600 level. Two attempts to turn things around have failed as the pair hit lower lows. A drop below the recent bottom of 0.6530 would make the Aussie vulnerable to a new round of sell-off, with 0.6450 as a possible target. 0.6620 is the first resistance in case of a sustained bounce.
USOIL breaks higher
WTI remains in bullish mode after recent global tensions simmered. The double bottom at 60.00 could prove to be a robust and psychological support. A close back above 62.50 at the previous peak could prove that bulls remain in the market. A break above the 63.00 level would likely be the sellers’ last stronghold and could extend the rally. 60.50 is the immediate support as the RSI bounces in the neutral area.
SPX 500 moves within reach
the SPX 500 index, as well as the other US indices, moved higher after a robust earnings season so far. 6600 at the base of a bullish extension is a key level to watch and see if prices continue higher. Any exposure to any downside would potentially open the door to 6700, should earnings season quieten down. 6900 would be the first hurdle to clear to set another milestone at 7000.
Trading the forex market requires extensive research, and that’s what we do best.
The post Intraday Analysis 04.11.2025 appeared first on Orbex Forex Trading Blog.