Dow index (US 30) falls from grace
Dow index eased its downward trajectory after the recent sell-off. After a brief dip, a hold above the psychological level 40000 has helped bulls regain control of the short-term direction. The record high above 41400 is a crucial resistance where the bulls could take some chips off the table. 40100 is the closest support as the RSI ventures into the overbought area, and buyers could see a limited pullback as an opportunity to stake in.
EURUSD bounces back
The US dollar attempted to gain some lost ground as America came to terms with a new Democratic nominee. The pair’s trajectory has turned corrective after hitting the peak of 1.0950. A fall below the psychological level of 1.0900 shook out the weak hands as the pair now shows some signs of consolidation. 1.0840 is the first level to crack, and its breach could lead to a bullish continuation below 1.0800, confirming the bearish divergence on the RSI.
USDCAD drives higher
The Canadian dollar slipped after the economy narrowly avoided a contraction. A bounce above 1.3700 has prompted sellers to cover and eased the downward pressure. 1.3780 from a previously brief rebound is the closest resistance if the momentum continues. On the downside, 1.3660 is the first support for bulls to consolidate their gains before a potential turnaround in price action can lead the pair towards 1.3600.