Gold fades the bounce off 61.8% Fibonacci retracement of July-August moves as traders await Fed Chair Jerome Powell’s appearance at the annual Jackson Hole Symposium.
NZDUSD picks up bids inside a weekly trading range that restricts the pair’s move after it dropped below a five-week-old ascending trend line and the 200-SMA.
EURUSD dropped to the lowest since late 2002 during the four-day downtrend.
GBPUSD dropped consecutively during the last four days to approach the yearly low marked in July.
NZDUSD bounces off a five-week low as it extends the corrective pullback from a weekly falling channel’s support line.
GBPUSD extended pullback from 100-SMA to refresh monthly low, before the recent corrective pullback near 1.1900.
AUDUSD broke a one-month-old bullish channel after witnessing a downbeat Aussie Wage Price Index.
Gold consolidates the previous four-week uptrend by retreating from the 61.8% Fibonacci retracement of the June-July move from Monday itself.
EURUSD began the key week by breaking an important support confluence surrounding 1.0200, which includes 100-SMA, 200-SMA and a one-month-old ascending trend line.
USDJPY bounced off 131.25-50 horizontal support area despite multiple failures to cross the 50-DMA, not to forget the monthly resistance line.
GBPUSD retreats from the 11-week-old descending trend line as the traders await the first readings of the Q2 2022 UK GDP.
US inflation allowed EURUSD to extend the three-day uptrend towards refreshing the monthly peak, by also piercing a downward sloping resistance line from late March.
