The WTI (USOIL) attempts to rebound
The WTI crude remains pressured after geopolitical tensions still linger. From the chart’s perspective, the current correction wiped over $5 off the value and is yet to stabilise with a decisive break below 83.00, indicating sustained weakness. 81.00 is the next support as the RSI goes oversold once again. Bulls must clear 84.50 and the top of the brief rally at 85.20 before a sustained recovery could materialise, or the commodity could be vulnerable to another sell-off.
USDCHF stuck in consolidation
The US dollar struggles to lift above the 0.9150 zone as price action remains consolidated. The pair is in a precarious situation with tentative breaks below 0.9050, which could begin a bearish rally. 0.9130 is the closest resistance, and only a clean cut above the psychological level of 0.9200 would improve the market mood and add a building block to a fresh high. Otherwise, momentum selling could take over and send the greenback to the previous swing low at 0.8860.
GBPUSD tests key support
The pound bounces after finding some support at the 1.2300 level. The price consolidates its gains on the chart, suggesting that the bias could turn bullish after a heavy downturn in recent sessions. A close above the previous consolidation zone of 1.2450 could flush out the remaining bears and pave the way for a breakout rally towards 1.2600. The RSI’s oversold condition could temporarily limit the upside.
