Intraday analysis covering GBPUSD pushes lower , NZDUSD , and NAS 100, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
GBPUSD pushes lower
Cable moved lower as the Dollar revival continued across the board. From the chart’s perspective, the bias remains bearish as the pair aims to remain below 1.3400.
- As momentum becomes slightly exhaustive after hitting a recent bottom.
- A drop below 1.3350 could lead intraday buyers bailing out but it could be an opportunity for bulls to buy low.
- 1.3460 is a critical resistance to turn things around as the RSI remains in oversold territory.
NZDUSD continues correcting
The Kiwi fell from its recent peak as prices hit a major failure swing. The pair is looking for some support after a tentative break towards the psychological level of 0.5800.
- While sentiment might be bearish, the rally could be running out of steam.
- A potential bullish divergence on the RSI indicates a loss of momentum.
- A break below the immediate support of 0.5800 would force some traders to bail out.
- 0.5880 is the next level for buyers to remain interested, with 0.5970 lying ahead.
NAS 100 breaks lower
The Nasdaq took a step back as the sell off with big chip makers continued. On the chart, the index attempts to grind its way higher after licking its wounds.
- The bullish bias could be still intact despite some uncertainty.
- Buyers have been eager to step in at pullbacks, resulting in fresh highs.
- After a break away from 29700, 30775 becomes the target higher.
- A close below 28900 would signal another move to a fresh low.
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