- US oil retreated from Friday highs at 74.43 and is currently trading at 73.24 levels.
- The pair opened this week's trade with a bearish gap, hit session lows at 72.61.
- Oil prices dropped on Trump's declaration of agreement from Saudi Arabia that production needs to increase.
- Trump's declaration was premature, markets still await clarification on whether or not Saudi Arabia could decide to abandon OPEC limits.
- Meanwhile, oil has retraced from lows and is currently trading above 73 handle.
- Technical indicators on daily charts support upside. Price has broken out of daily cloud.
- However, caution advised as Stochs have entered overbought zone and RSI has shown retrace from near overbought levels.
- We see major resistance at 73.85 (strong trendline). Any further upside only on break above.
- Immediate support lies at 5-DMA at 72.71. Decisive break below could see some weakness.
Support levels - 72.71 (5-DMA), 71.78 (1H 110-EMA)
Resistance levels - 73.85 (trendline), 74


FxWirePro: USD/ZAR faces downside pressure with 38.2%fib support in focus
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD edges higher as markets track U.S.-Iran talks and oil moves
FxWirePro: GBP/NZD downtrend extends, remains on bearish path
FxWirePro- Major Pair levels and bias summary
FxWirePro : EUR/NZD outlook weaker on renewed downside pressure
NZDJPY Bears Stay in Control After Sell-Off — Sell Rallies at 93 Targeting 90 as All EMAs Align Bearish
FxWirePro:EUR/NZD downtrend Intact, eyes 1.9500 level
FxWirePro: AUD/USD firms after upbeat consumer spending data
FxWirePro- Major Pair levels and bias summary
AUDJPY Bounces 150 Pips on Short Covering — Sell Rallies at 111.40 Targeting 108 as Higher EMAs Stay Bearish
Major European Indices Trend Scores: DAX & CAC40 Hit Perfect 100, FTSE100 at 85 — All Bullish with Key Levels to Watch
Currency Scores of Major Pairs: GBPUSD, AUDUSD & NZDUSD Top Charts at 85 — Bullish Pairs to Watch
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/AUD consolidating around 1.9185, bias is bearish
FxWirePro: USD/JPY gains capped as intervention fears keep traders on edge 



