AUDUSD hits resistance
 

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The Aussie hit another brick wall as prices failed to breach the recent top. The latest upside move stalled at 0.6520 as sentiment shifted lower. A combination of profit-taking and fresh selling could weigh on the price action. 0.6470 is the immediate support to keep the current trading zone intact, and further down, the recent bottom at 0.6440 is a critical floor to prevent a bearish continuation.
 

USOIL moving higher
 

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WTI jumped to a 3-week high amid expanding Russian oil sanctions. A surge above the psychological level of 60.00 continues to fuel the bullish impetus, putting the price on its way to break 62.50. The RSI’s rise into the overbought area suggests a slowdown in the momentum, and a pullback cannot be ruled out. The previous swing low at 60.80 would be the first level to test the bulls’ resolve, with 59.00 as the second line of defence.
 

UK 100 another record
 

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The UK 100 index (FTSE) hit a fresh record, boosted by oil stocks following the recent sanctions. A jump above 9500 suggests that sellers were forced to cover their positions, intensifying the volatility. A bullish extension could continue the upward trajectory with 9700 as a potential target. In the near term, the bulls could look to consolidate their gains and secure a foothold, however, 9450 is the closest support in case of a pullback.

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