It’s simply the question of time before gold price gets to the higher levels…
AUD/USD continues the downtrend
Information is not investment advice
AUD/USD formed a lower high within the overall long-term downtrend. The pair is currently supported by the 50% Fibo of the January recovery at 0.7020. This level is all that is left before the pair will slide to the lower levels of 0.6955 and 0.6860 in line with a “Head and Shoulders” pattern.
Positive dynamics will be once again possible if the pair returns above 0.7060, but even then the next resistance will be rather close, at 0.7085.
USD/CAD is consolidating after breaking above the bearish “wedge”. The pair has bullish dynamics since the start of June.
XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down.
The pair has broken down two strong supports. What’s next?
Investors want to trade riskier, and dire economic and virus background doesn't stop that. The USD will testify.
Risk-on pushed stocks and riskier currencies upward.