Gold braces for the fourth weekly losses even as a one-month-old falling support line defends intraday buyers.
A daily closing beneath a nine-month-old rising support line, now resistance around 0.6480, keeps the AUDUSD bears hopeful of witnessing further downside.
NZDUSD bears are losing momentum after a four-week downtrend. The Kiwi pair is showing a one-month-old bullish falling wedge chart pattern at the yearly low.
As GBPUSD bears near the 1.2600 support, pending UK employment data could influence their momentum. A negative jobs report might push them towards the 200-day moving average (DMA) support.
EURUSD ended the week on a negative note while piercing a 10-week-old rising support line, now immediate resistance around 1.0950.
A bullish triangle joins Thursday’s rebound to lure GBPUSD buyers as markets await the first estimates of the UK Q2 GDP.
EURUSD bears appear running out of steam during the fourth weekly loss. Moreover, the Euro pair seesaws between a three-week-old falling resistance line.
A clear downside break of the 10-month-old rising support line teases the AUDUSD bears as China releases mixed inflation data from July.
Gold Price remains on the back foot but a clear downside break of $1,925 becomes necessary for the bears to take control.
USDJPY jostles with a five-week-old horizontal resistance by slipping beneath monthly horizontal support.
Failure to cross a nine-week-old horizontal resistance drags the Gold price back an upward-sloping support line from late February.
A daily closing beneath the 1.2720 support confluence, now resistance, teases the GBPUSD bears as Bank of England (BoE) policymakers brace for another interest rate hike.