Intraday analysis covering EURUSD(The euro) , AUDUSD , and NAS 100, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
EURUSD remains undecided
EURUSD(The euro) took a break from moving towards more multi-week highs but remains bullish.
- The pair has been inching higher and lower since last Friday’s NFP data, which saw a decline in job numbers.
- 1.1430 is the first hurdle for bulls on the path higher.
- As the RSI ventures away from the overbought area, the recent bottom could serve as firm support at 1.1340.
- 1.1550 is the next key level should a bullish extension ensue.
AUDUSD stays congested
The US dollar continues to gain traction across the board as risk appetite remains heightened.
- The current rebound from the 0.6960 top has kept momentum to the downside.
- Now that buyers are seemingly out of the picture, the path is mostly clear for a move lower towards 0.6865.
- However, a push above the latest resistance could lead to another rally, with 0.7000 becoming a psychological resistance.
NAS 100 hits another low
The Nasdaq remained pressured after global indices fell lower with fresh attacks in the Middle East.
- On the chart, the price is moving towards 28400 as bearish momentum attracts sellers.
- However, a bullish RSI divergence could indicate a deceleration in the downward spiral and might lead to a pullback if traders begin to close positions.
- 30000 is the closest resistance at the recent gap, and its breach would send the index towards 30800 to claim another record.
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