Nasdaq 100 pulls back from record high as EUR/USD stays sidelined and WTI bounces back
The Nasdaq 100 has eased from its all-time high as technical signals point to potential further downside, while EUR/USD holds near its 55-day moving average and WTI edges toward key resistance.
Nasdaq 100 comes off record high
The Nasdaq 100 has come off last week's 23,969 all-time high as the daily relative strength index (RSI) showed negative divergence.
Since then the index slid to Wednesday's low at 22,560 before stabilising. A fall through this level would likely engage the 55-day simple moving average (SMA) at 22,744 and the 22,674 - 22,587 support area. It consists of the 7 July to 1 August lows.
The odds of a further descent being witnessed remain high while the July peak at 23,589 isn't overcome. If so, a new record high is likely on the cards.
Nasdaq 100 daily candlestick chart
EUR/USD remains sidelined
EUR/USD's slide off its mid-August two-week high at $1.1730 seems to be finding support along the 55-day SMA at $1.1627. A fall through it on a daily chart closing basis may put the 11 August low at $1.1629 and the mid-July low at $1.1557 on the map.
While the 55-day SMA at $1.1627 holds on a daily chart closing basis, the 7 August high at $1.1699 may be retested. A rise above it would push last week's high at $1.1730 and the July to August resistance line at $1.1736 to the fore.
EUR/USD daily candlestick chart
WTI continues to gradually advance
WTI crude oil's tame recovery from its $61.45 per barrel 18 August low is taking it towards its key $63.86 - $64.83 resistance zone which is expected to cap.
Potential slips might find support around the 13 August low at $61.94.
WTI crude oil daily candlestick chart
- Source: TradingView. The figures stated are as of 21 August 2025. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.
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