AUDUSD failing from peak
The Australian dollar fell further as slowing inflation allowed the RBA to ease its hawkish stance. The impact of the RBA Inflation on market sentiment is evident as the pair continues to lose ground after it failed to stay above the recent peak of over 0.6780. 0.6600 at the start of the bullish breakout earlier this month is crucial to keep the rebound valid. The RSI’s oversold condition could trigger a ‘buy-the-dip’ scenario, but bulls must clear 0.6740 before they can hope for a meaningful rebound, or 0.6660 could be the next target.
USOIL grinds support
WTI crude remains stagnant even though the EIA reported an inventory drop. A series of short-term downward breakouts indicates a more substantial bearish bias, which could halt the recent rally. The psychological level of 80.00 is the first support, and bears could be looking to double down at rebounds. Only a new high above 83.50 would brighten up the mood. Otherwise, 78.50 would be the next stop if the selling resumes.
NAS 100 takes a tumble
The Nasdaq 100 dropped as investors shifted their attention away from tech-heavy stocks. The index came across selling interests over the 20-day SMA after falling from a record high above 20500. Profit-taking has driven the quote lower, but there is no sign of liquidation yet. Overall sentiment remains bullish, and trend followers are eager to jump in to push back towards the all-time high. 19000 is the closest support, and 20250 is the first obstacle to lift.
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