WTI crude(USOIL) attempts to rebound
WTI crude(USOIL) continues its choppy move higher as prices remain pressured after geopolitical tensions still linger. From the chart’s perspective, the current move added over $5 to the value but is yet to stabilise with a decisive break above 60.00, indicating ongoing uncertainty. 58.00 is the first support as the RSI move into the overbought area. Bulls must clear 60.50 and the top of the brief rally at 63.00 before a sustained recovery could materialise, or the commodity could be vulnerable to another sell-off.
USDCHF spikes up
The US dollar broke out of its recent consolidation as price action moved above the 0.8300 resistance. The pair was in a precarious situation with tentative breaks below 0.8250, which could have begun a bearish rally. 0.8400 becomes the next target, and only a clean cut above this level would improve the market mood and add a building block to a fresh high. Otherwise, momentum selling could take over and send the greenback to the previous swing low below 0.8180.
GBPUSD tests key support
The pound slipped after the greenback gained the upper hand in the pair. On the chart, the price was attempting to consolidate gains, suggesting that the bias could turn bullish after the recent trade deal between the UK and the US. However, a close below 1.3200 could flush out the remaining bulls and pave the way for a breakout rally towards 1.3000. The RSI’s oversold condition could temporarily limit the downside, with 1.3300 the target for buyers.
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