NDXUSD

The technology index Nasdaq is showing a positive trend above the pivot level of 21753. Weak economic data released yesterday strengthened expectations that the Fed is closer to cutting rates, supporting the index. "Dovish" messages from the FOMC that will take place this evening could trigger buying in technology stocks sensitive to rate cuts, targeting resistance levels of 21833 and 22004. A "hawkish" tone, on the other hand, could trigger profit-taking and lead to a test of the support at 21583.