(Nas 100) Nasdaq another day, another record
The (Nas 100) Nasdaq hit another milestone as the bull rally continues. The index encountered more buying interest as tech stocks continued to dominate. Profit-taking could drive the price lower, but there is no sign of liquidation or a pullback. The overall sentiment remains exceedingly bullish, and trend followers appear eager to jump in for another fresh high. 22800 is the closest support, and 23200 is the first obstacle to lift.
AUDUSD finds support
The Australian dollar bounced higher after finding some crucial support in the mid-0.6400 area. The pair continues to climb higher after prices managed to break the 0.6500 level, which has now become a crucial level to maintain the recent rebound. The RSI’s previous oversold condition triggered the bullish move, but bulls will need to clear 0.6560 before they can hope for a meaningful rebound.
USOIL remains bearish
Crude looks for direction after failing to convert the latest rebound into a meaningful comeback. A series of failed highs in price action sees bears take over as whispers of 65.00 being tested again look likely. On the upside, the psychological level of 70.00 is the first target, and bears could be looking to double down on their positions if prices begin to creep higher. For now, a choppy consolidation ensues as the black gold awaits the next signal.
Test your trading strategy on forex and stocks with Orbex
The post Intraday Analysis 21.07.2025 appeared first on Orbex Forex Trading Blog.