Our intraday forex analysis includes AUDUSD analysis, XAUUSD, and USOIL, highlighting key support and resistance levels for each pair.
AUDUSD halts the rally
Our AUDUSD analysis shows The Australian dollar attempts to gain more momentum after the recent 100-pip jump. Price action appears to have found a secure footing as the pair enters a consolidation phase.
- 0.7030 is a major support for bulls to fight back and to safeguard an uptrend.
- 0.7080 is the first hurdle on the hourly chart, and its breach would reduce selling pressure.
- Further down, 0.6930 is a critical floor if a turnaround takes shape.
XAUUSD loses momentum
Gold loses a bit of steam after yesterday’s push saw over $200 added to the commodity. A pop above the immediate resistance of 4700 attracted more buyers as the price moved towards the recent record high.
- 4800 is the next target, with a move to 3500 on the radar.
- A bearish divergence in the RSI could signal a reversal.
- A pullback would clear the path for a move towards 4500.
USOIL bounces higher
WTI bounces higher as the turnaround in sentiment continues. On the chart, the price has recently peaked at the 100.00 resistance level.
- A move above 100.00 will send sellers packing and set the stage for another move higher.
- 90.00 is the support to gauge the strength of follow-up bids in case of a pullback
- 97.50 is a key level to keep the upward bias intact in the near term.
