Intraday Analysis - Friday, Sept. 18

US 30 remains pressured

The US 30 retreats after falling another 500 points as indices across the board lick their wounds.

• The mood around the US 30 remains cautious, with 51500 becoming a critical support.

• A drift below 52000 put traders on the defensive, but could be an opportunity for early buyers to take profit.

• For the US 30, 52400 is the level to see if buyers will support the market.

• A break at 52400 would expose the next target at 53300, keeping the US 30 under pressure.

USDCAD hits psychological resistance

The greenback stepped back as the pair hit a new multi-week high after the Fed’s rate decision.

• Price action took a breather at 1.4000 as buyers covered their bets, forming a consolidation.

• A bearish pullback would turn the tables by confirming the ongoing overbought RSI status.

• 1.3940 then 1.3860 would be the next target lower if a reversal ensues.

EURGBP shifts higher

The euro advanced after prices jumped over 50 pips to reach a fresh high.

• With price securing a foothold towards 0.8600, bulls will look for confidence to push higher.

• Failure to break past 0.8600 will put buyers under pressure.

• A bearish breakout could trigger an extended rally past 0.8570.

• 0.8550 is a critical floor if a sharp turnaround sends prices lower.