AUDUSD reaches new peak
The Australian dollar maintained its rally after jumping by more than 100 pips in recent sessions. The pair is still grinding higher after hitting a peak at 0.6585. Its breach would open the door to 0.6600, potentially moving towards a multi-month high. 0.6550 is an important support to maintain the upward momentum as the RSI remains vastly overbought, which could see signs of exhaustion. A break at the said support opens the door to 0.6520.
USOIL tests demand zone
WTI fell from its recent high after peace talks between Russia and Ukraine continued. The psychological level of 60.00 appears to be where tough resistance lies, suggesting there could be more range-bound trading opportunities. 58.20 is a key support to keep the latest rebound valid, as its breach would trigger a new round of sell-off towards 57.00. On the upside, 59.50 is the first resistance to lift.
Dow (US30) breaking higher
The Dow (US30) attempts to bounce back to its record high after grinding its way above 47000. The index was under renewed pressure after hitting resistance at 47700. The recent bounce is likely to meet strong resistance again, with the bears looking to sell into strength. Only a break above the said resistance would help buyers secure a foothold again. Failing that, the recent bottom at 47200 is a critical floor to prevent further liquidation, keeping it above November’s low at 45800.
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