Intraday analysis covering NZDUSD , XAGUSD Analysis, and NAS 100, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
NZDUSD continues choppy downturn
The Kiwi failed to recoup the losses incurred over most of last week.
- After breaking below the daily support level at 0.5750, the pair has struggled to find buyers.
- The directional bias remains down as a series of lower lows continues to attract trend followers.
- The slight oversold situation on the RSI could alleviate some pressure, but prices will need a break above 0.5840 to attract bulls.
- 0.5730 is a firm support at the recent bounce to prevent a test at 0.5700.
XAGUSD hits resistance
XAGUSD analysis shows the Silver remains under pressure as the commodity lost over $5 recently.
- Since the upsurge a few sessions ago, bears have halted any major advance above 70.00, where firm resistance was set.
- A close below 64.00 would attract more selling interest and send the metal to another fresh low.
- 61.00 is a critical support as the RSI struggles to get out of the oversold zone.
NAS 100 remains bullish
The Nasdaq hit some exhaustion as prices failed to break the 30500 level.
- The index is now consolidating, but more importantly, remaining above 29700 after a slight pullback.
- As a show of force, the recent move has barely dented the upward momentum. Instead, trend followers saw it as an opportunity to buy in.
- A close above the recent peak of 30775 could lead to a potential extension.
- Further below, 28800 is an important floor to maintain the bullish stance.
