NZDUSD grinding higher
The kiwi continued its rally against the greenback as the bullish channel progresses. A series of higher highs from the 0.5700 bottom indicates growing pressure on the US dollar. After hitting further support at 0.5750, the kiwi has bounced as price action attempts to regain the 0.6000 level, denting bearish momentum. 0.5840 at a previous peak is the next level, and buyers will be worried that the recent bearish candles do not send the price towards 0.5700.
EURGBP remains upbeat
The euro pulled lower after price action failed to maintain the bullish momentum after the recent 100-pip jump. The latest drop has put the 0.8700 level within reach. A break below this major obstacle would flush out the remaining bulls and pave the way for a broader correction towards the mid-0.8600 area. As the RSI retreats from the overbought area, 0.8720 at the previous support is the first level to gauge the strength of follow-up interests.
NAS 100 moving higher
The Nasdaq added to its gains after the tech-heavy index saw another shift in momentum. The index secured a foothold above 25,000 to maintain a bullish tone. The demand zone at 24600 could be the last chance to prevent a bearish reversal on the chart, as this level shows firm support. As earnings season is upon us once again, it will be the tech companies’ turn to lift the index to another record high.
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