GBPUSD tests support
The pound attempts to claw back losses as price action reverses sharply. The near-term outlook supports the dollar recovery theme after the pair bounced back towards 1.3300. The recent surge lower could continue if prices remain bearish, with 1.3150 acting as a critical floor. On the chart, the pair needs to move past 1.3400, which could lead to a push towards 1.3570, as the RSI remains in the neutral area.
USDCHF remains choppy
Much like a few forex pairs, the dollar reverses some losses made from last week’s negative jobs reading. The Swiss Franc is another currency pulling back from a resurgent dollar. On the chart, the pair is striving to hit the recent high at 0.7860, which has attracted more short-term buyers. On the downside, 0.7750 is the first hurdle, with a fall below this level opening the door to 0.7670.
NAS 100 holding critical support
The Nasdaq fell lower as America looks towards an ongoing conflict in the Middle East. The index took a step back after crashing through the 25000 level as traders now look for a test at 24500. However, the RSI’s fall could open a bullish divergence, leading to a move back to 25400. If the pressure does remain, bears will have an easy choice: stay in the market, with 24500 as the next target at the base of the previous support.
