EURUSD looks for direction
The euro continued its dominance over the American dollar (USD) after the pair bounced over 300 pips higher. As sentiment remains upbeat from the medium-term perspective, the recent move could be an opportunity for bulls to sustain the rally. A close above 1.1350 could attract momentum buyers and carry the euro beyond 1.1500. On the downside, support at 1.1230 is key in keeping the bullish bias intact.
USDCAD tests critical floor
The American dollar (USD) found support from the spike at 1.3800 as prices look to bounce back. As the pair slid over 200 pips in recent sessions, a retest of the critical floor of 1.3840 has put buyers under renewed pressure. A break here would open the door to the previous low of around 1.3760, as the RSI’s oversold condition has led sellers to take some profit but might not be enough to trigger a full recovery. 1.3900 is the first resistance, and 1.3980 is the major hurdle to overcome before a possible recovery.
UK 100 hits another high
The FTSE hit a fresh peak as investor sentiment continues to lead the charge. The current rally maintained momentum after bouncing off 8600 and jumping over 100 points. The current pullback gives buyers time for a breather as the RSI drops into the neutral zone. A fall below 8500 would attract more bears and could create a correction towards 8000. 8800 is the key resistance to clear to resume the uptrend.
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