XAUUSD holding ground
Gold trades slightly lower as price action gears up for another charge at fresh highs. A failure to hold above 2660 put the bulls on the defensive as the precious metal continues to look for the next signal. 2600 at the base of the rally is a firm threshold to see if buying interests will continue, and the bulls will need to clear 2675 to regain control. Further down, 2560 is a critical floor to keep bullion steady.
AUDUSD maintains rally
The Australian dollar remains bullish after jumping over 200 pips in the past few weeks. The pair has found steady ground above 0.6900 as price action broke the previous resistance. The psychological resistance of 0.7000 is the immediate resistance, and its breach would bring the quote to 0.7080, which is a crucial ceiling to lift before the bulls could hope for a test at yearly highs. Otherwise, a fall below 0.6820 would trigger a new round of sell-off to the recent support of 0.6640.
UK 100 grinds support
The FTSE continues grinding higher after firmly moving away from the 8000 area. On the chart, the price has been in a lengthy consolidation since the beginning of September, with 8350 as a three-time tested demand zone. A rise above this specified zone would indicate an interest in putting the index back on track. 8200 could be the bears’ last stronghold, and its breach could trigger a bullish continuation. However, stiff selling could be expected from profit-taking and fresh selling, with 8250 as the first support.
