The DAX(GER40) hitting a higher high
The DAX(GER40) continues higher as sentiment remains upbeat across the European markets. A move above 22000 indicates an acceleration to the upside. Following a brief consolidation, bulls are now looking to recover to the previous swing high above 23000. 22500 is the first hurdle to break before the price can continue higher. Any chance of a turnaround needs a break below 21700, and then 21000 will be in sight.
AUDUSD testing critical resistance
The Australian dollar continues to range as the pair attempts to crack the 0.6500 level. On the chart, the price is looking to consolidate until the next signal, and this might pause any bearish revival in the short term as the bigger picture remains upbeat. 0.6450 is the level to see if bulls are ready to step in and offer support. Otherwise, the swing low of 0.6400 is a critical floor, with 0.6340 at the base of the consolidation of the next target.
USDJPY bounces lower
The US dollar remains unstable after price action takes another dive lower. After some upbeat movement from the greenback, which tested the level of 144.00, sellers stepped in to drag the price lower. The Yen has secured a solid footing below 143.00, and a close towards 142.00 could carry the price to a hefty 140.00 psychological level. As the RSI drops back to the neutral area, a breakback above 143.00 is the first level to see if a sharp rebound is on the horizon.
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