EURGBP holds onto gains
The euro slipped further after falling away from its previous weekly high. A decisive break below the daily support at 0.8800 suggests sellers are targeting an extended rebound. 0.8760 is the upcoming target, and 0.8680 at the origin of October’s rally is the next target, and its breach could pave the way for a bearish continuation. As the RSI moves into oversold territory, 0.8780 becomes a significant support.
CADJPY hitting higher highs
The Canadian dollar maintains its bullish stance after hitting continuous higher highs, even after a slight dip in price action. On the chart, the mood remains upbeat as prices recently touched the psychological resistance at 112.00. A close above the said level would raise bids to the short-term peak of 112.60. Failing that, a drop below 111.00 might put the major support of 110.50 at risk.
GER 40 finds support
The Dax looks to halt the bearish rally from most of this month. A fall below the base of a current bounce at 23000 would suggest that sellers are still in control of the direction, forcing buyers to bail out. If the mood turns downbeat again, the bulls might be wary of further downward pressure, which could attract more sellers. 22700 would be the next level to see if there will be a further collapse. 23400 is the first hurdle to clear to ease the pressure and push prices to consolidate.
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