(Dow Jones) US30 hitting lower highs
The (Dow Jones) US30 saw two attempts to reach a fresh high falter as price action moves away from the 45000 level. After a brief sideways pattern, traders are now looking for the next signals from the Fed this week. A bullish breakout could pave the way for an extension to another record high. 44000 is the closest support as the RSI ventures into the neutral area, and buyers could see a limited pullback as an opportunity to move in.
EURUSD gives up gains
The EURUSD pair saw a sharp turnaround as sentiment shifted again, putting the dollar under more pressure. The downward momentum for the majority of the month has turned corrective after a bounce at the 1.1550 region. A move above the recent swing at 1.1650 shook out the remaining sellers as attention turned to a potential double top at 1.1700, a vital level to hold onto as prices pull back slightly.
USDCAD hits resistance
The Canadian dollar pushed further after the greenback fell more than 100 pips from its recent high. A bounce below 1.3700 has prompted buyers to cover, easing the upward pressure. 1.3680 from the lower low is the closest support should momentum carry on. Then the psychological level of 1.3600 is a critical floor to break before prices can initiate a broader sell-off. On the upside, 1.3750 is the first target for bulls to consolidate their gains.
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