Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
AUD/USD: pair to test nearest support
Information is not investment advice
There's a 'Triple Top', which has been confirmed by the last 'Pennant' and 'Flag' patterns, so the price broke all the Moving Averages. It's likely that the market is going to test the nearest support at 0.7096 - 0.7086 by the local uptrend line. The subsequent pullback from this level could lead to the beginning of an upward correction towards the closest resistance at 0.7131 and the 89 Moving Average.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?