The UK100 hits record high
The UK100 (FTSE) hit a fresh record high as softer-than-expected US jobs data boosted investor sentiment. The rally maintained momentum after bouncing off 8120 and jumping over 100 points. Rebounds have so far been capped by stiff buying pressure, with 8280 becoming a fresh resistance. A fall below 8200 would attract more bears and could create a correction to the round number of 8000. 8350 is the critical resistance to clear to resume the uptrend.
EURUSD recovering to previous swing high
The Euro continues to strive against the dollar after disappointing NFP numbers, which saw the greenback lose more pace. As sentiment remains upbeat from the medium-term perspective, the recent bounce could be an opportunity for bulls to sustain another rally. A close above 1.0800 could attract momentum buyers and carry the single currency beyond 1.0880. Conversely, support at 1.0720 is significant in keeping the bullish bias intact.
USDCAD tests critical floor
The Canadian dollar finds support from the late April bounce as prices look to consolidate. As the pair gave up all its recent gains towards 1.3800, a retest of the critical floor of 1.3640 has put the buy side under renewed pressure. A break here would open the door to the last bounce around 1.3500. The RSI’s oversold condition has led sellers to take some profit, but it might not be enough to trigger a bounce. 1.3760 is the first resistance, and 1.3850 is the major hurdle before recovery.
