Intraday Analysis - Thursday, June 11

NZDUSD attempts to rebound

The New Zealand dollar grinds sideways as price action develops a symmetrical triangle. Before the pattern emerged, the kiwi dropped over 150 pips in value.

• The RSI’s move away from the oversold area has attracted some bargain hunters.

• Buyers will need to clear 0.5880 before any hope of a full reversal.

• 0.5940 is the target ahead to the upside, with 0.5750 a critical support.

USOIL tests support

WTI hit another new low with concerns over supply disruptions and the ongoing war.

• With a bearish divergence suggesting lingering selling pressure, the price looks to have found a floor at 87.60.

• A continued bearish breakout could prompt more buyers to send prices towards 85.00.

• The next hurdle to lift for buyers would be 92.00 before a recovery can materialise.

UK 100 hitting a fresh low

The FTSE remains bearish as indices and stocks across the board react to further escalations in the Middle East.

• The index continues to slide as the 10160 level becomes the main support.

• Any chance of a pullback will first need a 10300 break to breathe some signs of life into the index.