(NAS 100 ) The Nasdaq another peak
(NAS 100 ) The Nasdaq awaits the next signal as price action falls from its latest peak. The index remains bullish as prices remain elevated. 25600 is the next target before the index picks up the pace to another all-time high. A pullback cannot be ruled out to let a potential rally take a breather, especially as the RSI keeps hovering near the neutral zone. 24800 is the first support; if this happens, 24400 would be a second layer to expect follow-up buying.
USDJPY continues recovering
The Yen lost further momentum against the dollar in the build-up to a host of vital economic data from America this week. The brief rally has so far moved the pair by over 100 pips, as the end-of-year sell-off has seen a sharp rebound. The greenback is testing the 157.00 level, and a convincing breakout could lift the pair to December’s high at 157.70. 156.50 is the immediate support if sellers decide to re-enter the market.
NZDUSD bouncing off support zone
The New Zealand dollar remains pressured as the greenback continues its domination. A push below the firm support at 0.5800 prompted buyers to cover their positions, easing short-term pressure. A bounce from the recent bottom at 0.5740 has seen some relief, but this target is the next hurdle for bears, as another move lower could be expected from a combination of profit-taking and fresh selling. A bullish breakout, however, would open the door to testing 0.5800 as the RSI flirts with oversold territory.
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