AUDUSD probes support
The Australian dollar (Aussie) steadied as the RBA paused from cutting its interest rate. On the chart, the price has come under pressure after failing to break the previous swing high at 0.6470. A combination of profit-taking and fresh selling could weigh on short-term sentiment as the Aussie tries to hold on. 0.6400 is the first support to hope for renewed buying interests, and 0.6380 at the base of the breakout is a critical floor on which to keep the momentum intact.
NZDUSD under renewed pressure
Kiwi, similar to The Australian dollar (Aussie), fell lower after a heavy rejection, which caused prices to slide. The recent high at 0.5890 seems to be a tough resistance to crack for now, with an upper candle wick indicating a rejection of higher bids. A retreat towards the psychological level of 0.5900 might trigger a pullback as previous momentum buyers bag their profits. 0.5820 at the base of the latest rally is a vital congestion area, and bulls will be looking to hold prices here.
NAS 100 falls from record
The Nasdaq took a breather as all eyes turn to the upcoming US CPI data. A tentative break below 21500 might have put the index under some pressure from a medium-term perspective. In the near term, though, the RSI’s repeatedly overbought condition could lead to a limited retracement, helping the bulls consolidate their gains before another round of rallies. 21200 is the first support, and 21000 is the bulls’ second line of defence in case of a deeper correction.
