Gold bears struggle inside a one-month-old rising wedge bearish formation, recently bouncing off the support line.
GBPUSD shows it all to suggest that the bull’s reign is near to end. However, a sustained trading below the 1.2330 support.
Downbeat US inflation data propelled the EURUSD pair to the highest levels since June on Tuesday.
USDCAD grabbed the bull’s attention ever since it crossed a two-month-old descending resistance line, now support around 1.3500.
USDJPY fades bounce off the 200-DMA as it failed to cross the previous support line from late May.
EURUSD is likely to end the two-week-old winning streak as traders brace for key consumer-centric data from the US.
Gold buyers appear running out of steam, despite grinding around $1,770 of late.
A clear upside break of the 50-DMA and a descending trend line from October’s peak keeps USDCAD bulls hopeful.
AUDUSD grinds near a three-month high as the RBA lifts benchmark interest rate by 0.25%, as expected.
USDJPY is under immense pressure as it breaks the 200-DMA support, as well as marks the 3.5-month low.
Gold prices brace for the biggest weekly jump in three as it stays around the highest levels since mid-August.
GBPUSD posted the biggest monthly gains since mid-2020 in November.