Intraday Analysis - Tuesday, Sept. 8

UK 100 grinding higher

The FTSE (UK 100)continued its comeback as progressive bullish waves moved towards 11000.

• A close above 10800 is another milestone in the week-long rebound.

• However, a potential bearish RSI divergence could indicate a slowdown in upward momentum.

• Buyers could use some breathing room to consolidate their gains.

AUDUSD hits another peak

The Australian dollar experienced another upward spike as prices recover from last week’s pullback.

• After the pair broke 0.7200, sentiment remains bullish, driving the pair higher.

• However, the medium-term outlook looks fragile, with traders expecting a retracement.

• 0.7120 at the base of a previous breakout is a critical floor should price action start to slide.

• 0.7240 is a key resistance, and its breach could open the door to a broader extension.

USDCHF probes resistance

The US dollar hopes to capitalise on the latest bounce as prices jump higher.

• The pair has built a base over 0.8000 to sustain the current bounce.

• As overall sentiment remains upbeat, bulls could look to buy into strength starting with 0.8150 as a fresh resistance.

• On the downside, a bearish breakout would extend losses towards 0.8000 if 0.8060 is broken.

• 10800 is the closest support in case of a pullback, with 10700 a critical bottom.