Our intraday forex analysis for NZDUSD, XAUUSD, and USOIL includes the latest gold price analysis today, highlighting key support and resistance:
NZDUSD bounces back
The New Zealand dollar remains elevated as prices bounce back. The pair is looking to stabilise with a bullish drive away from the recent bottom at 0.5700. The RSI’s move towards the overbought area attracted bargain hunters
- With 50 pips still to go to reach the psychological level of 0.5800, a push above this level could add fuel to the fire.
- A hold at 0.5760 is the first support before a continuation can begin to the lofty height of 0.5885.
XAUUSD drives higher
Gold Price Analysis Today:
Bullion steadied after hitting another fresh high as global tensions escalated. The precious metal tests the 4800 zone as buyers look for another jump.
- 4850 is the immediate resistance, and bears are expected to sell into strength as sentiment remains divided.
- Little room for bulls to manoeuvre as gold could have reached its peak for now.
- A break below 4650 would send gold to the psychological level of 4600.
USOIL seeking support
WTI crude moves lower amid optimism that the conflict will end in the coming weeks. The latest bounce from 106.00 is now targeting the 100.00 level, as the RSI remains muted, awaiting further signals.
- 96.00 is a fresh support as bulls gear up for another bounce off the current trend line.
- 102.30 is the next level higher to see if any meaningful buying interest can emerge.
- Failing that, the commodity could be in for another bearish run if a break below 92.00 emerges.
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