( GER 40 ) Dax picks up the pace
The ( GER 40 ) Dax maintained its competitive stance as prices moved away from the recent floor. The index is attempting to pass the 24000 level but could see a slight pullback with an overbought RSI, which could indicate a slowdown. A drop below 23500 would signal lingering weakness, and the bears could double down and send the index lower to test the recent support at 23300.
USDCHF bounces higher
The US dollar held firm after price action took a slight dip following the recent bullish rally. The pair has been looking to hold onto its gains after a jump above 0.7900, turning this into a tested support level. A further bullish breakout would pave the way for an extended recovery towards 0.8000. On the downside, a fall below the said support of 0.7900 would indicate weak buying interest and send the pair to the previous low at 0.7830.
EURGBP looking for a lift
The pair remains in a bullish mode after jumping over 100 pips from the beginning of the month. A move above 0.8780 will show further buying interest in keeping the euro’s edge after it spent the majority of August subdued. 0.8740 right under the recent peak would be the last obstacle, and its breach could put the euro back on the trajectory in the next few days. In the meantime, the pair needs to consolidate its gains above the major floor of 0.8700 to keep the upward impetus intact.
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