AUDUSD probes resistance
The Australian dollar (AUD) ramped up pressure on the greenback, adding over 50 pips. On the chart, the price is moving towards 0.6680, which is a fresh resistance level. Any signs of exhaustion could see a combination of profit-taking and fresh selling weighing on short-term sentiment. 0.6440 is the first support to hope for renewed buying interests, and 0.6600 at the base of the breakout is a critical floor to keep the momentum intact.
NZDUSD under renewed pressure
The Kiwi, like the Aussie, pushed higher as prices reacted to a sell-off on the American dollar. The recent high at 0.5800 seems to be tough resistance to crack for now, with an upper candle wick that could indicate a rejection of higher bids. A retreat towards 0.5740 might trigger a pullback as previous momentum buyers bag their profits. 0.5700 is an important congestion area, and bulls will be looking to hold prices here.
NAS 100 remains bullish
The Nasdaq took a breather as all eyes turned to a potential end of year stock rally. A tentative break below 25500 might have put the index under some pressure. In the near term, the RSI’s move towards the overbought area could lead to a limited retracement, helping the bulls consolidate their gains before another round of rally. 25200 is the first support, and 25000 is the bulls’ second line of defence in case of a deeper correction.
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