Intraday Analysis - Monday, June 22

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.