NAS 100 moving higher
The Nasdaq 100 added to its modest gains after the tech-heavy index saw a shift in momentum. with Nasdaq rising steadily as the index secured a footing over 20000 and saw further sideways action to maintain a bullish rhetoric. The demand zone at 19600 could be the last chance to prevent a bearish reversal on the chart, as this level shows firm support. As earnings season is upon us once again, it will be the turn of the tech companies to lift the index to another record high.
NZDUSD remains pressured
The US dollar pulled back slightly from its two-week rally against the Kiwi. A series of lower lows from the 0.6360 peak indicated growing pressure on the pair. After hitting support at 0.6050, the Kiwi has seen a bounce as price action attempts to regain the 0.6100 level, denting the bearish momentum. 0.6150 at a previous consolidation is the next level, and further up, a move above 0.6230 could trigger a complete reversal.
EURGBP grinding the correction
The euro fell after price action failed to maintain the bullish momentum after the recent 100-pip jump. The latest drop has put the September low of 0.8300 within reach. A break below this major obstacle would flush out the remaining bulls and pave the way for a broader correction to 0.8200. As the RSI retreats into the neutral area, 0.8340 at the previous support is the first level to gauge the strength of follow-up interests.
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