Intraday Analysis - Wednesday, Oct. 7

EURUSD gaining lost ground

The euro (EURUSD) looks for a continuation as the pair finds a bounce.

• The RSI’s shift to the neutral zone has drawn selling and buying interest as the euro tries to stabilise above 1.1200.

• 1.1230 is the first resistance to crack to give the bulls a ray of hope.

• The major ceiling of 1.1350 will be the next target before a recovery can materialise.

• Failing that, 1.1100 is a critical floor to prevent a slide lower.

NZDUSD seeks firm support

The Kiwi hopes for some momentum as the greenback remains bullish.

• The latest downturn came to a halt at 0.5580.

• A dip below 0.5500 will see the buy side under further pressure.

• The former resistance at 0.5660 is the first hurdle to clear higher, before the next top at 0.5700.

US 30 spikes higher

The Dow edged higher after tech stocks maintained the rally on Wall Street.

• Signs of exhaustion could take shape as the RSI ventures into the overbought area.

• 50700 is a firm support if stocks lose their appeal.

• 51800 at the recent top is the next level to see if buyers have returned, with 52400 a next target ahead.