Nasdaq 100 (NAS) bounces higher
The Nasdaq 100 (NAS) hits another fresh high as investors pile into AI-related stocks. A rise above the previous resistance at 21400 indicates robust buying interests as bears struggle to contain the rebound. Even though the hourly price action is choppy, the directional bias remains upward. 21700 is fresh support, and a close above the round number of 22000 would propel the index to 22400.
USDJPY finding support
The US dollar is making a steady comeback after breaking the previous 144.00 resistance. A bounce towards 145.00 has put the dollar back on track as selling interests stepped aside. 146.30 at the top of the latest peak is the next stop before a test at May’s high at 149.00 can be validated. 143.80 is the first support as the RSI ventures into overbought territory, with 143.00 being the bulls’ second layer of defence.
AUDUSD creeping higher
The Australian dollar remained defiant after hitting a double top at 0.6530. A move above the daily resistance of 0.6500 has proven that buyers are still in the zone, driving up the pressure on the greenback. As the RSI remains overbought, 0.6440 at the start of a breakout rally back earlier this month is the area to see if sellers will re-emerge. The recent double top and then 0.6580 are the hurdles to lift to stop the downturn.
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