Intraday Analysis – USD into pullback

<div><img width="750" height="430" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11083540/Intraday-24.png" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="USD into pullback" decoding="async" loading="lazy" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11083540/Intraday-24.png 750w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11083540/Intraday-24-300×172.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></div><h2>NZDUSD lifts recent high<br />
<a href="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084404/NZDUSD-chart-2.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-209218 size-full" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084404/NZDUSD-chart-2.png" alt="NZDUSD chart 11-10-23" width="1200" height="627" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084404/NZDUSD-chart-2.png 1200w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084404/NZDUSD-chart-2-300×157.png 300w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084404/NZDUSD-chart-2-1024×535.png 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084404/NZDUSD-chart-2-768×401.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></a></h2>
<p>The US dollar softened after the Atlanta Fed president’s comment that there is no need to push rates higher. The pair has recovered from its late September sell-off, which is a strong sign that buyers are not out of the game yet. A subsequent close above the recent  peak of 0.6050 could extend the rally to 0.6110 as sellers scramble for the exit. The psychological level of 0.6000 at the base of the breakout is the first support to maintain the momentum. 0.5930 would be the bulls’ second layer of defence in case of further hesitation.</p>
<h2>USOIL probes resistance<br />
<a href="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084431/USOIL-chart-2.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-209219 size-full" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084431/USOIL-chart-2.png" alt="USOIL chart 11-10-23" width="1200" height="627" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084431/USOIL-chart-2.png 1200w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084431/USOIL-chart-2-300×157.png 300w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084431/USOIL-chart-2-1024×535.png 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084431/USOIL-chart-2-768×401.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></a></h2>
<p>WTI crude bounces on worries about potential supply disruptions in the Middle East. The price has pulled back to the base of the September breakout rally around 81.00. This is an important demand zone to keep last month’s rally intact. The psychological level of 90.00 at the top of a brief uptick is the first resistance to clear to turn the short-term mood around. Then a rise above 93.00 might open the door to a bullish continuation. On the downside, 81.60 is a fresh support and 79.50 a critical floor to prevent a reversal.</p>
<h2>NAS 100 recoups losses<br />
<a href="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084451/NAS-100-chart-2.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-209220" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084451/NAS-100-chart-2.png" alt="NAS 100 chart 11-10-23" width="1200" height="627" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084451/NAS-100-chart-2.png 1200w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084451/NAS-100-chart-2-300×157.png 300w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084451/NAS-100-chart-2-1024×535.png 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2023/10/11084451/NAS-100-chart-2-768×401.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></a></h2>
<p>The Nasdaq 100 advanced on Fed officials’ latest dovish comment. On the daily chart, the index is still in a pennant consolidation pattern, indicating that the bulls have not capitulated yet. The price has secured a base at the double bottom at 14440 and a subsequent jump above 14900 may have put the index on a path of recovery. 15250 is the next threshold to lift before the bulls could push to September’s high of 15600. In case of a retracement, 14770 would be the first to gauge the strength of follow-through bids.</p>
<p>The post <a rel="nofollow" href="https://www.orbex.com/blog/en/2023/10/intraday-analysis-usd-into-pullback">Intraday Analysis – USD into pullback</a> appeared first on <a rel="nofollow" href="https://www.orbex.com/blog/en">Orbex Forex Trading Blog</a>.</p>