While a year-long resistance line has been testing gold buyers for one week, a six-week-old rising wedge bearish chart pattern teases sellers as markets brace for the Fed’s verdict.
USDJPY extends pullback from a four-year high, recently failed to keep the bounce off 113.50, amid downbeat MACD and RSI.
GBPUSD keeps pullback from 200-DMA and 78.6% Fibonacci retracement (Fibo.) of September-December 2021.
Gold buyers cheer a clear break of the 23.6% Fibonacci retracement (Fibo.) of August-November 2021
EURUSD remains on the back foot so far during the current week, heading into the key ECB Monetary Policy Meeting Accounts.
Although USDCAD buyers keep lurking around an upward sloping trend line from June, failures to stay decisively above the 200-DMA keep sellers hopeful of breaking the 1.2450 support.
Having reversed from the late October tops, GBPUSD pokes the key support lines around the mid-1.3600s.
AUDUSD justifies a bearish candlestick formation, namely Gravestone Doji, to post the biggest daily losses in a fortnight the previous day.
EURUSD extends the run-up beyond 200-SMA to cross a two-month-old horizontal area surrounding 1.1385 post-US inflation data.
Gold keeps the bounce off 23.6% Fibonacci retracement of November-December fall to cross the 100-SMA surrounding $1,805
USDCAD traders to a decisive point with a “Head and Shoulders” bearish chart pattern luring sellers.
Gold broke the key support around $1,795 comprising 200-SMA and a 13-day-old ascending trend line.