The Dow (US 30) pushes for a fresh record
 

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The Dow edged higher after tech stocks maintained the rally on Wall Street. A sign of exhaustion could emerge as the RSI ventures into the overbought territory again. Sellers have faded out as the latest rebound signals a strong bearish skew in the near term. With buyers cautiously waiting on the sidelines, the index is yet to find a bottom. 46700 at the recent high is the next level to watch and see if buyers are back. Alternatively, the daily support of 46400 would be a critical floor to keep the Dow afloat.

EURUSD digests NFP figures
 

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The euro looks for the next signal as traders digest last Friday’s Non-Farm numbers. Zooming in on the hourly chart, the RSI’s firm stance in the neutral zone has sparked some selling and buying interest as the euro attempts to stabilise above 1.1700. 1.1750 is the first resistance to crack to give the bulls a ray of hope. Then they will need to lift the major ceiling of 1.1820 at the previous bullish spike before a recovery can materialise.
 

NZDUSD moves higher
 

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The Kiwi saw some momentum as the greenback remained cautious across the board. However, the latest rebound came to a halt at 0.5840, and a subsequent dip below 0.5800 could see the buy side under pressure. The former support level of 0.5760 is the first hurdle for bears to clear before moving towards the next top at 0.5700. Any chance of an upward continuation needs a 0.5900 break to move towards September’s high.

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