AUDUSD breaking higher
 

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The Aussie (Australian dollar) advanced as the Central Bank raised its cash rate. The pair has moved past the 0.7000 level, suggesting that the Aussie could have found a bottom at this month’s low around 0.6925. A bullish breakout would force sellers to abandon ship and pave the way for a sustained move towards 0.7100. In the meantime, the rally could pause in this area if buyers take some chips off the table, and a break past 0.6925 would expose the bottom at 0.6800.
 

NZDUSD recoups losses
 

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Like the Aussie, the New Zealand dollar gained some traction after bouncing off the firm support of 0.6000. The rally could accelerate if prices manage to remain above the said level, as the pair shows signs of exhaustion. The January peak at 0.6100 is a major ceiling, and its breach would signal a continued bullish rally. In the near term, however, 0.6000 is the first support, and 0.5920 is the bulls’ second layer of defence.
 

NAS 100 looking for support
 

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The Nasdaq hit a fresh low as tech stocks began to wobble. Sellers are capitalising on its break below 25500, attracting trend followers in this crowded trade. The psychological level of 25000 is the next lower threshold, and a convincing breakout could trigger a deeper correction. However, a bullish RSI divergence will signal a deceleration in underlying momentum, and a reversal towards 25500 could lead to a 26200 top should the bears start to take profit.

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