Forex analysis | Amega

The Daily Markets Watch: NASDAQ, AUDUSD & NGAS (02.12.21)

2 December 2021 Amega

NASDAQ continued to plunge yesterday despite rallying in the short-term after the first Omicor case was reported in the US. The index is down 2% in today’s session and looks poised to break the 38% Fibonacci at 15865.

With risk flows decimated Aussie hit a 7-month low against the dollar but has bounced off 0.7060 momentarily for what seems to be a relief rally. Will the 0.71 support hold after the embarrassing GDP figures overnight?

Commodities weren’t excluded being the risk assert they are, with NaturalGas also reaching a multimonth low at $4.10. Since the $4.32 acts as a resistance, the next level of support is lower down at $3.92, by the 50% Fibonacci.

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