Introduction: Welcome to our daily technical analysis of the financial markets, focusing today on AUD/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. AUD/USD Analysis:
News Summary:
The Australian dollar remains strong against the dollar, and the rise in recent months is still in the range. The market is digesting the key events this week. First, the Reserve Bank of Australia unexpectedly maintained the interest rate at 3.85%, and second, the minutes of the meeting released by the Federal Reserve hinted that there will be no policy adjustment in the short term. This week, the RBA's interest rate decision was significantly beyond market expectations.
Trend Analysis:
We can see AUD/USD continued to rebound at H4 level and ran above the 48 hours moving average. In addition, the MACD double line and histogram bar expand near the zero axis. The buy limit could be set, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [0.6500]
Key Resistance Levels: [0.6650]
Pivot Points [0.6540]
2. Gold Analysis:
News Summary:
Although safe-haven demand has provided support for gold prices, the strong performance of the US dollar has limited the upside of gold prices to a certain extent. The US dollar index hovered near its high in more than two weeks, making gold less attractive to overseas buyers. However, the US 10-year Treasury yield fell from a high of more than two weeks to 4.34%, providing some support for the rebound in gold prices. The decline in US Treasury yields reflects that market concerns about the US fiscal outlook have eased.
Trend Analysis:
We can see gold rebounded and returned the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy bar expand near the zero axis. The buy limit could be used, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [3290]
Key Resistance Levels: [3370]
Pivot Points [3310]
