NDXUSD

The technology index Nasdaq is completely focused on Wednesday's Fed decision due to its high sensitivity to interest rates. A 25 basis point rate cut expected within the forecasts could quickly push the index from the pivot of 24067.10 to the resistance levels of 24123.70 and 24185.50, as it would positively affect the growth potential and borrowing conditions of technology companies. If Powell signals further easing during the press conference, it will strengthen this rally. However, if the Fed skips a rate cut or conveys a message of a tight stance for the future, it could lead to a sharp wave of selling in technology stocks, pushing the index towards the support levels of 23996.80 and 23878.40.