Intraday analysis covering USDCHF, AUDUSD , and XAUUSD Analysis , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
USDCHF hits multi-month high
The dollar kept the pressure on as prices jumped above the 0.8100 level. With the RSI sticking to the overbought zone, signs of an extended overbought market is becoming more visible on the chart.
- The latest upturn suggests growing interest from the sell side, with a correction potentially on the horizon.
- Bulls will need to clear the mid-0.8100 range before a meaningful extension can happen.
- Any signs of exhaustion could see a drop to the first support at 0.8040.
AUDUSD pushing lower
The Australian dollar attempts to hold its ground after falling through the 0.6900 level.
- The pair is struggling to gain any traction as the greenback continues to dominate.
- There have been further sellers attracting more sellers as the RSI remains subdued.
- 0.6880 needs to be broken before further downside momentum can continue towards 0.6840.
- On the upside, a bullish reversal would lead prices towards 0.6960.
XAUUSD tests demand zone
The XAUUSD analysis Gold continues to sell off after reaching oversold levels as prices move towards 4000.
- An initial bounce is a sign of profit-taking by short-term sellers in the mid-4050 area, which could ease the downward pressure.
- 4000 is the closest support to prevent a collapse towards 3930.
- On the flip side, a break past 4070 could renew buying interests to test 4120.
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