Intraday Analysis - Thursday, August 27

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.

Nasdaq 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.