(Nasdaq)NAS100 driving higher
The (Nasdaq)NAS100 remained calm as a heavy rejection of the previous record high led to a slight pullback in price action. The index came across selling interests after it fell lower. Profit-taking has driven the quote lower, but there is no sign of liquidation yet. Overall sentiment remains bullish, and trend followers would be eager to jump in, hoping to push back towards the all-time high. 23000 is the closest support, and 23400 is the first obstacle to lift.
AUDUSD continues bull run
The Australian dollar moved another wave higher as traders look towards this week’s interest rate decision. The pair continues to gain ground after clearing the 0.6500 level. 0.6450 at the start of the bullish breakout last week is a crucial level to keep the rebound valid after the end of the July sell-off. The RSI’s moved towards the overbought region could cause some reprieve for sellers, so bulls will need to clear 0.6580 before they can hope for a meaningful recovery.
USOIL hits fresh low
WTI crude remains pressured as geopolitical tensions ensue. A series of short-term downward breakouts indicates a more substantial bearish bias, which could continue. The psychological level of 63.00 is the next support, and bears could be looking at a deeper correction. Only a new high above 66.00 would brighten up the mood. Otherwise, 62.50 would be the next stop if the selling resumes and then a critical floor at 60.00.
Test your trading strategy on forex and stocks with Orbex
The post Intraday Analysis 11.08.2025 appeared first on Orbex Forex Trading Blog.