NDXUSD

The Nasdaq 100, which is sensitive to interest rates, was one of the assets most negatively impacted by yesterday evening's FOMC minutes. The Fed prioritizing inflation concerns increased pressure on technology stocks. Today's PMI data from the U.S. and tomorrow's Powell speech will determine the short-term fate of the index. Any additional hawkish message from Powell could trigger a deeper correction in technology stocks.

Technical Levels: 23,820.70 - 23,708.60 - 23,623.70 - 23,546.50 - 23,485.45 - 23,400.00 - 23,320.00
Technical Comment: Following the break of the 23,708.60 pivot last night, selling accelerated. Prices are currently hovering near the main support at 23,546.50. A break of this support could deepen sales towards the levels of 23,485.45 and 23,400.00. In potential rebound purchases, 23,623.70 and 23,708.60 will act as strong resistances.