Nasdaq (NAS 100) another peak
The Nasdaq (NAS 100) advances as investors continue to price in the Fed’s next move. The price continues on its way above this year’s high of 22000, further reinforcing the bullish mood. 22250 is the next target before the index continues the rally to the next all-time high. A pullback cannot be excluded to let the rally take a breather, especially as the RSI keeps showing an overbought condition. 21600 is the first support should this happen, and 21350 would be a second layer to expect follow-up buying.
USDJPY continues recovering
The Yen lost further momentum against the dollar in the build-up to interest rate and inflation data this week. The rally has so far moved the pair over 400 pips as the November sell-off has seen a sharp rebound. The greenback is testing the psychological level of 154.00, and a convincing breakout could lift the pair to the ceiling of 155.20. 153.60 is the immediate support.
NZDUSD tests support zone
The New Zealand dollar remains pressured as the greenback continues to dominate. A jump below the daily support of 0.5800 has prompted buyers to cover their positions and eased the pressure in the short term. 0.5740 is the next hurdle for bears, and another move lower could be expected from a combination of profit-taking and fresh selling. A bullish breakout, however, would open the door to the early December peak of 0.5920 as the RSI flirts with the oversold area.
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