Nasdaq 100 (NAS 100) tests resistance
The Nasdaq 100 index has recouped most of its losses from the November sell-off as sentiment remains cautious. The spike at 25600 is a key obstacle where a breakout could ease any signs of selling pressure and pave the way for another record high. However, sellers could be looking to sell into strength as the RSI moves towards the overbought region. 25000 at the base of the latest bullish thrust is the closest support in case of a retracement.
EURGBP seeks support
The Euro remains pressured after a bearish bounce from the beginning of last week. The pair is attempting to consolidate after moving towards the daily support of 0.8730. Sentiment remains bearish for the pair, as short-term sellers have preferred to keep prices at 0.8800, which could propel a move towards the recent low of 0.8660. Should a turnaround in fortunes ensue, 0.8770 would be the first target.
XAUUSD creeping higher
Gold found more momentum as prices moved away from the recent support at 4175. The price is attempting to hold onto its previous gains after testing 4225. The daily RSI’s overbought condition might lead to a pullback, allowing the bulls to take a breather before the next leg of the rally. 4200 is the immediate support, and a bounce above 4275 would signal a bullish continuation towards 4300.
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