( NAS 100 ) Nasdaq slipping from record
The ( NAS 100 ) Nasdaq, as well as the other main indices, continues its choppy path amid the Middle East conflict. Even though the index added 800 points in recent sessions, the extreme volatility has left traders wondering how much longer this price action will continue. 25400 is the next target higher before bulls can think about hitting a top at 26120. On the flip side, 24500 remains a critical floor to prevent a deep correction.
GBPUSD tests support
The pound attempts to break the latest support as prices remain pressured. The near-term outlook supports a recovery theme after the pair bounced off 1.3300. The recent consolidation could signal a retracement if a close above 1.3350 is confirmed. On the hourly chart, a break below the firm support at 1.3300 would target 1.3150, as the RSI remains downbeat just below the neutral area.
USDCHF hitting lower lows
The Swiss Franc is another currency benefiting from a turnaround after the recent dollar rally ended. On the chart, the pair is reversing as a break past the psychological level of 0.7800 attracted more short-term sellers. With a drop of almost 100 pips, the RSI has also fallen away from the overbought, as bulls look for a reprieve. 0.7860 is the first hurdle ahead, and a fall below 0.7780 would expose 0.7670.