AUDUSD pushing for a rebound
The Australian dollar continues to climb after hitting a full recovery. The pair’s previous struggle to stay above 0.6600 forced some buyers to liquidate their positions. However, another bullish run has pushed the Aussie back on top as price action looks towards the 0.6700 level. The resistance of 0.6660 is a significant level to see if buyers remain in the market. 0.6620 is the first support in case of a rebound lower.
NZDUSD ( The Aussie ) breaks swing high
The Aussie wasn’t the only currency on the front foot as the Kiwi also progressed against the greenback. A break above 0.5940 has attracted more buyers as the previous swing high resistance was broken. On the flip side, a fall below 0.5920 would expose the daily swing low below 0.5900. The RSI’s overbought condition could attract some bargain hunters as a bearish divergence emerges, but the buy side will need to clear 0.6000 before the rally can continue.
XAUUSD hits resistance
Gold remains firm after hitting another record, as the 3600 level becomes the latest support. The short-term price action is still having a hard time securing a foothold to prevent a reversal after the jump towards 3650. 3575 looks to be the bull’s second line of defence, making it a critical floor to break. Failing that, a move above the recent high would trigger a further rally with 3700 a potential target.
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