XAUUSD tests resistance
Gold remains intact after briefly falling below the psychological 2300 level. On the chart, the price seeks to consolidate after a $30 whipsaw swing, which saw a recent high at 2325. Zooming into the hourly chart, a drop below the first support 2280 will dent the impetus, causing some short-term buyers to take profit. 2160 at the base of the recent rally is a critical floor. A close back above 2360 would keep the bulls interested in another record high.
AUDUSD aiming to break triple top
The Australian dollar increased as the fallout from Friday’s NFP numbers continued. The selling pressure eased as the greenback failed to stop the pair from breaking the 0.6500 level. A test at the April high of 0.6650 has prompted more sellers to cover their positions. A close above 0.6850 would send the pair to fresh highs. The base of the latest momentum at 0.6400 is fresh support, and 0.6490 at the 20-day SMA is vital to keep the rally going.
USOIL sinking lower
WTI continues to slide as ongoing global tensions keep the pressure on prices. A drop into the oversold territory for the RSI has revived hopes that a bounce could be on the horizon. With the round number of 80.00 acting as a fresh resistance, bulls could bail out even further if price action continues to fall. A fall below 74.00 would expose 68.80 once again, potentially extending losses to 65.00. On the flip side, a close above 82.50 could wipe out the recent losses for crude.
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