(Silver) XAGUSD tests major resistance
 

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Precious metals have seen a surge in the past month as traders flocked to the safe havens. (silver) XAGUSD has fallen back slightly after hitting the psychological level of 43.00, and this could be the ultimate test of buyers’ resolve. A bearish breakout would expose this month’s lows towards 38.00, invalidating the recent rally. An overbought RSI brought in some sellers, as the indicator now drops lower. Only a close below 40.00 would help attract more selling interest.
 

USDCHF breaks previous low
 

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The dollar continues to weaken as the Fed confirmed its first rate cut of the year. The pair is still majorly bearish, probing for support as buyers take some chips off the table. The recent bounce at 0.7830 has seen a slight pullback, suggesting that sentiment remains cautious at best. 0.7880 is a critical floor to keep the current rebound valid or risk a bearish continuation. On the upside, the former daily resistance of 0.7960 would be next in case of a turnaround.
 

GER 40 looks for a lift
 

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The Dax popped higher after firmly moving away from the 23000 level. 23200 is key in keeping the upward bias intact from the daily chart’s perspective, or its breach could trigger a prolonged correction. 23700 at the top of the previous consolidation is a fresh resistance level, with 23400 serving as the immediate support as more buyers are attracted. A fresh high is in sight if the index can clear the said resistance, with 24100 the next target.

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