XAGUSD bounces higher
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Silver looked to shrug off the recent sell-off as it establishes itself around the 63.00 area. The retracement might be an opportunity for the bulls to take a breather before breaking higher. The tip of a previously faded bounce at 64.50 is a key hurdle to overcome to turn short-term sentiment around and progress to another record. 62.40 is the first lever, and 61.00 is an important support to keep buyers interested, as its breach would open a multi-week low.
NZDUSD slides lower
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The New Zealand dollar saw a price decline as prices moved away from the recent top. The choppy nature of the pair has led to a fall from the psychological level of 0.6000. However, a break above the recent peak at 0.5830 could trigger a recovery as 0.5800 is the first hurdle. Further down, the recent bottom of 0.5760 is a critical floor to prevent a fresh round of sell-off.
SPX 500 takes a breather
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The S&P rode a solid week for tech stocks as the index neared another record. On the chart, the index is testing the latest high of 6900. A bearish RSI divergence led to a loss of momentum, which could be due to fresh selling and profit-taking in this congested area. 6800 then 6720 are the next two layers in case of a correction. However, a bullish breakout would force sellers to scramble for the exit, opening the door to an extended rally above 6960.
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Intraday Analysis - Monday, Dec. 15
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