(The FTSE) UK 100 bounces back
 

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(The FTSE) UK 100 eyes another fresh high as price action breaks the previous resistance of 9200. The move has attracted further buying interest from the start of the breakout rally last week. A close above the first resistance of 9260 prompted short-term sellers to trim their exposures, opening the door to the recovery. As the RSI shows a neutral situation, a break at 9320 will be needed to ease any potential sell-off.
 

AUDUSD pushes lower
 

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The Australian dollar took another step towards this month’s low with a test at the 0.6600 level. On the chart, prices remain pressured, indicating that the greenback could be gearing up for another rally as the RSI moves closer to the oversold territory. 0.6580 is the current support, as the buy side will need to clear 0.6650 to ease any signs of a pullback. Otherwise, the pair could be vulnerable to a move towards 0.6500 at the last firm support.
 

NZDUSD feels the heat

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Like its neighbour, the New Zealand dollar also hit a fresh low as prices confirmed a move past 0.5900. A drift below the daily swing low of 0.5860 has put those who were against the summer rally on the defensive. The next level of 0.5800 is critical in keeping the Kiwi afloat for the coming days, as its breach could trigger an extended sell-off towards 0.5760. The RSI’s oversold condition has attracted some buying, but 0.5940 is the first hurdle to overcome before any rally continues.

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