NDXUSD

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NDXUSD

While the NASDAQ Index hovers around the pivot level of 21155.35, the unemployment claims, PMI, and existing home sales data coming from the U.S. are critically important for the direction of technology stocks. Especially for the NASDAQ, which is sensitive to interest rates, if this data indicates a slowdown in the U.S. economy (high unemployment, low PMIs), it could increase expectations for the FED to be more hawkish in its interest rate hikes. This situation could create selling pressure on the NASDAQ, pulling the index towards the support levels of 20827.10 (S1) and then 20670.95 (S2). The data today providing clues about the FED's future monetary policy will be a key determinant for tomorrow's performance in the technology sector.

Support :

20827.10 - 20670.95 - 20428.75

Resistance :

21639.75 - 21311.50 - 21155.35