AUD/USD and Gold Analysis

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AUD/USD and Gold Analysis

Forex News and Analysis

Pivot: 0.811

Most Likely Scenario: Long positions above 0.811 with targets @ 0.8175 & 0.82 in extension.

Alternative scenario: Below 0.811 look for further downside with 0.8085 & 0.806 as targets.

Comment: The RSI is bullish and calls for further upside.

aud/usd chart

Pivot: 1197

Most Likely Scenario: Short positions below 1197 with targets @ 1170 & 1156 in extension.

Alternative scenario: Above 1197 look for further upside with 1203 & 1214 as targets.

Comment: As long as 1197 is resistance, look for choppy price action with a bearish bias.

Gold Chart

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