​​​DAX 40, AUD/USD Await US CPI Data As Brent Crude Oil Rejected By Resistance

(MENAFN- DailyFX (IG)) ​​​DAX 40 comes off record high

​Over the past few days the DAX 40 has been coming off its record high at 24,479 towards the 2 June low at 23,740. While this level holds on a daily chart closing basis, the uptrend remains intact.

​Failure at 23,740 could provoke a more pronounced correction towards the 23 May low at 23,275.

​Minor resistance can now be spotted around the 21 May high at 24,152 and at the 28 May high at 24,325.

​Above the all-time high at 24,479 beckons the 24,500 region.

Source: TradingView ​AUD/USD grapples with resistance

​AUD/USD is inching towards its May-to-5 June highs at $0.6537-to-$0.6538. These levels remain in sight while the April-to-June support line at $0.6497 and the 6 June low at $0.6480 underpin.

​Below it minor support may be seen between the 29 and 22 April highs at $0.6449-to-$0.6439 as well as along the 200-day simple moving average (SMA) at $0.6429.

​A rise above $0.6538 would push the late November peak at $0.6550 to the fore.

Source: TradingView ​Brent Crude Oil capped by resistance

​The Brent crude oil price's advance has been rejected by the major $67.39-to-$70.45 resistance area going back to September 2024.

​The early June high at $65.76 may offer short-term support ahead of the 55-day SMA at $65.27.

​While the next lower 4 June low at $64.09 holds, the medium-term uptrend remains intact, though.

​Were the $64.09 low to give way, the 15-to-27 May lows at $63.19-to-$62.82 may be revisited. While the next lower 30 May low at $61.99 holds, further sideways trading is at hand.

​A currently unexpected rise above the key $67.39-to-$70.45 resistance area would put the 200-day SMA at $71.48 on the map.

Source: TradingView

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