Nasdaq futures hold 29,115-29,125 support; USD-risk link in focus

Nasdaq-100 E-mini futures remain moderately bearish after losing the pivotal 29,295-29,300 support zone, but selling pressure is stalling as buyers defend the 29,115-29,125 demand band. Price action suggests a short-term balancing phase rather than an outright breakdown, with the latest developing bar treated cautiously until it completes. A reclaim of 29,210 would improve the near-term structure and open scope for a recovery toward 29,240, with the broken 29,295-29,300 area as the first meaningful resistance test. Failure to hold 29,115 keeps the path open for another leg lower, which typically coincides with risk-off flows that support the US dollar and the yen while pressuring higher-beta currencies such as AUD and NZD. Traders operating in QQQ, Nasdaq 100 CFDs, index options or the cash index should treat these futures levels as market-structure references rather than execution triggers. For FX participants, equity index direction remains a useful proxy for global risk appetite, with USD/JPY and AUD/USD historically the most responsive majors to sharp swings in US tech benchmarks.