It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
AUD/USD: aussie has grown to Cloud
Technical levels: support – 0.7750, 0.7815; resistance – 0.7880
- Sell — 0.7870/80; SL — 0.7900; TP1 — 0.7815; TP2 — 0.7750.
Reason: bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the market returned to bottom border of the Cloud.
GBP/AUD opened the week with a gap down. Things like that have already happened before and, back then, the price continued its way down.
AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650.
Risk-on pushed stocks and riskier currencies upward.
It’s simply the question of time before gold price gets to the higher levels…
Coronavirus and massive oil oversupply was a once-in-a-generation coincidence. Is the worst over?