NDXUSD

The NASDAQ100 index is showing some recovery due to expectations of the Fed's upcoming rate cut and pressure on U.S. 10-year Treasury yields. Economic data from China falling short of expectations is creating pressure on Asian indices, while U.S. index futures are not much affected by these developments. The U.S. dollar index starts with limited losses, and PMI data remains one of the focal points for markets.

Technically, the NASDAQ100 index is trading above the 21800 level, supported by the 21-period exponential moving average. If it stays above this level, the positive trend may continue, and 22100 and 22200 resistance levels can be tested in upward movements. To increase downward pressure, 4-hour closures below the 21800 level are needed, in which case 21700 and 21600 support levels may come into play. The RSI indicator is at a neutral level and shows a daily increase of 0.20%.