BRNUSD

Rising geopolitical tensions and uncertainties in the Middle East are keeping oil prices under pressure. Conflicts between Israel and Lebanon and potential Iranian interventions are creating concerns in the markets. Meanwhile, interest rate cuts by the People's Bank of China and uncertainties regarding the US and Chinese economies are causing fluctuations in global markets. While these developments lead to a volatile course in oil prices, the reactions of European and US stock markets should be closely monitored.

Technically, the BRN/USD pair is testing its support at the 73.00 level. If the downward movements continue, the 72.50 level may emerge as the next support. In upward recoveries, the 73.50 and 74.00 levels should be followed as resistance. The RSI indicator is at 41 and shows a negative outlook. The downward trend in the pair has decreased by 0.41% compared to the previous day. Hourly closings above 74.00 could trigger the continuation of upward movements.