Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
AUD/CAD broke key resistance level 0.9680
- AUD/CAD broke key resistance level 0.9680
- Next buy target - 0.9740
AUD/CAD recently broke the resistance trendline of the daily down channel from April – which accelerated the B-wave of the active ABC correction B from the start of May. The price today broke the key resistance level 0.9680 – which should accelerate the active wave B. With the accelerating daily Momentum, AUD/CAD is expected to rise further toward the next buy target at the next resistance level 0.9740.
The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
UK's Raab supports that virus restrictions are serious, proportionate
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.