(NSDQ) Nasdaq attempting a fight back
The (NSDQ) Nasdaq continues its daily grind after seeing prices edge higher. The tech-heavy index touched 23000 in recent trading as big tech stocks got hit. A subsequent drop below 22600 could have cleared the last stronghold for buyers and forced them to switch sides. If trend followers join the action, they could see any pullback as an opportunity to buy in. The index is on its way towards 23600, with 24000 as the next target.
AUDUSD Aussie remains propelled
The Australian dollar remained in control as the latest minutes from the RBA looked positive. The pair has recovered from the recent bearish downturn as prices fell away from the 0.6600 region. A break past the psychological level of 0.6500 would be a step closer to a full reversal. In the meantime, an overbought RSI could cause a limited pullback, especially if intraday bulls take some chips off the table. 0.6440 would be the first support in this case.
USDCHF struggles to find bids
The US dollar sank further as the overall sentiment looks bleak, as traders turn their attentions to the next Fed meeting. A tumble towards this month’s low at 0.8000 was a strong sign of liquidation as the remaining bulls scrambled to the exit. As the RSI shows a repeatedly oversold condition, 0.8060 is the next level to see if buyers enter the market, and 0.8120 is the next layer of resistance to clear.
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