Everyone is interested in trading gold (XAU/USD). The meeting of the Federal Reserve at 21:00 MT time (GMT+3) will certainly drive the price.
AUD/CHF may recover
Information is not investment advice
AUD/CHF is trading within a long-term downtrend. However, the pair has managed to find support near the psychological level of 0.6500. Now there’s scope for a bullish correction. An advance above 0.6680 (38.2% Fibo retracement of the July-August decline). Upside targets will lie at 0.6730 (50% Fibo) and 0.6780 (61.8% Fibo). On the downside, support is at 0.6560 ahead of 0.6500.
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
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