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Gold holds onto Monday’s rising wedge confirmation, suggesting further downside despite bouncing off.
EURUSD dribbles around a monthly low after breaking the six-week-old horizontal support. That said, the downward sloping RSI (14) line.
A clear downside break of the six-week-old horizontal support keeps GBPUSD bears hopeful of further south-run ahead of the US Federal Reserve (Fed) and the Bank of England (BOE) monetary policy meetings.
Gold prices remain sustainably below 200-SMA since late April, pressured inside a three-week-old rising wedge of late.
Although EURUSD battles a four-month-old resistance line, the lower high of prices contrasts with the higher high of the RSI (14).
Brent oil prices grind higher around late March tops, staying above 10-DMA inside a monthly bullish channel formation.
AUDUSD broke a three-week-old support line and the 50-day EMA as traders await the Reserve Bank of Australia’s (RBA) second rate hike of 2022.
GBPUSD not only snapped a two-week uptrend by the end of Friday but also jostles with short-term key support around 1.2480, comprising 100-SMA and a fortnight-long support line.
Gold prices seesaw around the monthly top after crossing a five-week-old resistance line, as well as a weekly hurdle.
EURUSD fades three-week-old recovery as it remains below a downward sloping trend line from early February, around 1.0745 by the press time.
AUDUSD struggles to remain beyond a three-week-old support line, having reversed from a multi-day high the previous day.
USDCAD bears keep reins around a five-week low, attacking the 200-DMA ahead of the key Canada Q1 GDP.
GBPUSD refreshed its monthly high the previous day but the bulls don’t have smooth sailing due to the weekly closing below the 1.2630-40 horizontal hurdle.
EURUSD remains firmer inside a fortnight old bullish channel ahead of the Fed’s preferred gauge of inflation.
Gold prices stay pressured inside a fortnight-old bullish channel, recently challenging the channel’s lower line.