AUDUSD:  Maintains Corrective Bias

AUDUSD:  With AUDUSD turning higher on Monday and following through higher on Tuesday, it now faces the risk of further upside in the days ahead. On the downside, support resides at the 0.7850 level where a breach will aim at the 0.7800 level. Below that level will set the stage for a run at the 0.7750 level with a cut through targeting further downside towards the 0.7700 level. On the upside,…

GBPJPY: Halts Weakness, Triggers Correction

GBPJPY: With the cross reversing its early intraday losses to strengthen on Monday, it faces further corrective recovery threats in the days ahead. On the downside, support comes in at the 177.00 level where a violation will aim at the 176.00 level. A break below here will target the 175.00 level followed by the 174.00 level. Further down, support lies at the 173.00…

GOLD: Looks To Trigger Correction

GOLD: With a marginal close seen the past week, corrective pullback is envisaged. Resistance resides at the 1,315 level where a break will aim at the 1,330.00 level. A break of here will turn attention to the 1,350.00 level followed by the 1,380.00 level. A cut through here will extend gains towards the 1,400.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1,300.00 level where a…

EURUSD: Maintains Its medium Term Weakness

EURUSD: With EUR declining strongly further the past week, further downside is likely in the days ahead..Support is seen at 1.1150 level with a cut through here opening the door for more downside towards the 1.1110 level. Further down, support lies at the 1.1050 level where a break will expose the 1.1000 level. On the upside, resistance lies at the 1.1250 level where a violation will aim at the 1.1300 level where a break will aim at the…