Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
AUD/USD: upward correction is underway
Information is not investment advice
The last 'V-Bottom' pattern led to the beginning of the current upward correction. At the same time, there's a 'Thorn' pattern, so we could have a local downward correction in the coming hours. Thus, the market is likely going to test the closest support at 0.7022. This level could be a departure point for a bullish price movement towards another resistance at 0.7071 - 0.7086.
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?