AUDUSD Aussie remains propelled
The Australian dollar(AUDUSD) remained in control as prices hit another higher high.
- The pair has recovered from the recent bearish downturn.
- A break past the psychological level of 0.72 would extend the rally.
- In the meantime, an overbought RSI could cause a limited pullback.
- 0.7140 would be the first support as 0.7080 awaits more sellers.
USDCHF finding bids
The US dollar sought more buyers as yesterday’s positive economic data pushed prices higher.
- A move towards this month’s high is a strong sign that the remaining sellers have scrambled to the exit.
- As the RSI creeps into the overbought zone, 0.8060 is the next level to see if buyers remain in the market.
- 0.8000 is a strong support level to keep the rally intact.
NSDQ attempting a fight back
The Nasdaq continues its daily grind after seeing prices edge higher.
- The tech-heavy index touched 29000 in recent trading as big tech stocks fell.
- A subsequent drop below 28500 could see the 28000 level being broken.
- If trend followers join the action, they could see any pullback as an opportunity to buy in.
- The index needs a significant bounce if 30250 is to be tested.
Trading the forex market requires extensive research, and that’s what we do best
