NDXUSD

The disappointing ADP data ahead of the U.S. non-farm payrolls report has led to selling pressure on the Nasdaq index. However, a rebound in ISM services PMI data has somewhat eased recession concerns. Despite falling U.S. bond yields, the Nasdaq remains under pressure. The upcoming employment data and the Fed’s decisions will determine the direction of the index. On the 4-hour chart, the NASDAQ100 finds support at 18850 and 18750, while resistance is noted at 18975 and 19155. The RSI indicator is at 35.07, suggesting a slight recovery. The index is trading at 18855.5, up by 0.08% from the previous day. Support:18850 - 18750 - 18670 Resistance:18975 - 19155 - 19300