Market insights
Gold buyers appear running out of steam, despite grinding around $1,770 of late.
A clear upside break of the 50-DMA and a descending trend line from October’s peak keeps USDCAD bulls hopeful.
AUDUSD grinds near a three-month high as the RBA lifts benchmark interest rate by 0.25%, as expected.
USDJPY is under immense pressure as it breaks the 200-DMA support, as well as marks the 3.5-month low.
Gold prices brace for the biggest weekly jump in three as it stays around the highest levels since mid-August.
GBPUSD posted the biggest monthly gains since mid-2020 in November.
EURUSD pair is all set to register the biggest monthly gain since September 2010.
USDCAD grinds lower inside a bullish chart pattern. That said, the 50-DMA hurdle surrounding 1.3570 guards the Loonie pair’s immediate upside.
AUDUSD remains on the bear’s radar as it broke a short-term symmetrical triangle, as well as the 50-SMA.
Gold pierces 50-SMA as it braces for the weekly gains with a four-day uptrend.
EURUSD stays on the front foot after successfully breaking a one-week-old descending resistance line, now support around 1.0290.
NZDUSD defends the early month breakout of the 100-DMA and a downward-sloping trend line from April 05.
AUDUSD remains pressured after printing the first negative week in five. The bearish bias recently got acceptance from the 50-SMA breakdown.