NAS100(Nasdaq) begins to rebound
The NAS100(Nasdaq) continues its long-term recovery as prices firmly move away from the 16500 floor from last month’s sell-off. The near-term outlook remains upbeat after the price cleared the 20000 barrier. Some consolidation could ensue as price action looks for the next direction, as a fresh bullish drive needs to take out 20400 to weaken the selling impetus. With the RSI bouncing from the oversold area, 19600 is the first support.
NZDUSD tests critical floor
The Kiwi spiked lower as the pair hovered around the psychological level of 0.5900 as dollar buyers struggled to hold on to their gains. Rebounds have been capped so far, which could indicate growing upward momentum. Further bullish volatility would trigger a firm move towards 0.5880. On the downside, a break at the recent bottom of 0.5870 is critical support to prevent prices from dropping to the lower 0.5700 region.
EURJPY hits another top
The euro continues its bullish trend after signalling a V-shaped recovery. On the chart, the single currency rose above 164.50, which was its highest level since December. With prices adding over 300 pips in value over the last few days, this suggests a strong bullish trend in the long and short-term perspectives. Bears will need a break below the recent surge at 163.80 to calm the bulls, which could then open up at 162.50 at the base of the previous swing high.
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