(XAUUSD) gold waiting for the next signal
(XAUUSD) gold continues to grind higher to push for another fresh high after falling short at 3380. The price remains in bullish mode, having jumped over $100 since the start of the month. An overbought RSI could see a limited pullback, but all eyes are set for a test at 3400. Otherwise, a fall below the fresh support of 3350 would open the door to a test at the lower region of the 3300 area.
USDCAD continues lower
The American dollar softened after weaker than expected PMI services data. The pair is struggling to stay afloat at the 1.3800 zone as sellers pile on the pressure. The buyer attempted to re-enter the game after a brief consolidation but failed to hold the 1.3750 level, which has now become a firm resistance. On the downside, 1.3700 serves as the first support, with 1.3580 marking the base of the previous rally as a critical floor.
NZDUSD spikes higher
The New Zealand dollar looks to reverse the end of July sell off as price action spiked higher. A brief pullback after hitting 0.5920 gave hope for the greenback to manage a turnaround. However, this was short-lived as the pair turned its attention towards the 0.6000 zone. 0.5880 has offered some support, and its breach could trigger a new round of liquidation. 0.5970 is a fresh resistance as the RSI creeps higher.
Test your trading strategy on forex and stocks with Orbex
The post Intraday Analysis 08.08.2025 appeared first on Orbex Forex Trading Blog.