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Intraday Market Analysis – EUR tries to hold onto gains

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EURUSD consolidates gains

EURUSD

After ECB officials pledged to keep increasing interest rates, the euro gained support. The pair came under pressure near last June’s high of 1.0780. A RSI divergence indicates a decrease in the upward momentum. This could be significant in this supply area. After traders took some chips off the table, new buying interests will need to follow through to maintain the single currency’s edge. 1.0530 This is the key level to ensure that it happens or the price may fall below 1.0440. A rally above 1.0700 Keep the bulls on the field.

Major support is found for the AUDUSD

AUDUSD

The Australian dollar falls as the RBA minutes suggest a possible pause to rate hikes. At the time of the September selloff, the pair has not been able to surpass 0.6900. The aussie has been hampered by profit-taking and fresh sales. The recent lows of 0.6750 could have dampened enthusiasm. 0.6670 Attest. The bulls will need to lift offers from the newly created supply zone. 0.6790 They had to regain control before they could do so. If they fall below the support, it could trigger a larger liquidation.

US 30 requests support

US30

The Dow Jones 30 drops as investors sell risk assets to offset the possibility of further rate increases ….



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