( UK 100 )FTSE remains choppy
 

(Click on image to enlarge)

The ( UK 100 )FTSE continues to grind sideways as the recent direction has left traders feeling uneasy. Following a tentative test to break 9400 on the downside, the index appears to have encountered resistance around 9520, with a divergent RSI suggesting a slowdown. A close above the said resistance zone could lift offers higher, otherwise, the price could revisit 9240 to continue the choppy trend.
 

USDJPY moving lower
 

(Click on image to enlarge)

The Yen bounced back against the greenback as price action looks to close the weekend gap at the beginning of the month. A close below the recent low of 150.50 would indicate renewed selling pressure and could lead to a bearish continuation. The recent low and psychological level of 147.00 is a major target ahead if the dollar gives back most of its gains. 151.80 is the first resistance in case of a pullback.
 

NZDUSD bounces back
 

(Click on image to enlarge)

The Kiwi advanced as the greenback remained pressured across the board. After hitting support at 0.5690, the Kiwi headed higher to recapture around 100 pips. Since then, another bounce at 0.5750 seems to be a decent support after the RSI bounces away from oversold territory. Intraday sellers’ profit-taking could drive prices even higher, especially if they succeed in lifting the 0.5800 zone. If sentiment remains downbeat, 0.5700 becomes the fresh support

More By This Author: