(S&P 500) SPX keeps on giving
The(S&P 500) SPX continues to push higher as stocks rise. A close above 6300 supported the bullish trajectory, as there seems to be no signs of exhaustion. A retracement could begin if short-term buyers take profit, as the RSI shows a clear bearish divergence. The fallback could be seen as an opportunity for medium-term rally players to step in. 6240 is a crucial support level should bears begin to trade again; otherwise, the target of 6500 could be on the horizon very soon.
NZDUSD breaks lower
The US dollar moved higher across the board as the ongoing tariff dispute calmed down. A move below the psychological level of 0.6000 has prompted some buyers to trim their exposure. 0.6060 is the key obstacle to move before the pair can break free of its corrective path, potentially opening the door to 0.6150. Instead, stiff selling could push the pair below 0.5920, which is a critical support to prevent the kiwi from slipping lower.
EURGBP tests critical floor
The Euro was left licking its wounds after the recent US-EU trade deal failed to spark market activity. The sell-off continued after a break below 0.8720 forced buyers to bail out, and a break below 0.8700 is a sign of weakness, indicating a lack of commitment to keep the price afloat. While some bargain hunting triggered a bounce after the RSI fell lower, bulls will need to clear 0.8700 and then 0.8760 before they can regain control. Otherwise, a bearish breakout would extend losses towards 0.8600.
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