Last week EUR/AUD tested the highest levels since 2009 at 1.6780, but failed to hold there and closed at 1.65 forming a candlestick with a long upper shadow on W1.
Daily Market Analysis
The decline of the AUD versus the USD has been steady since July 19. This week AUD/USD has tested the lowest levels since 2009, but then turned back up.
XAU/USD remains in an uptrend. This week it rose above the key psychological level of 1,500.
GBP/AUD is having a bumpy ride. The pair has been trading in a downtrend since May.
Technical analysis of AUD/NZD
USD/CAD spiked towards the resistance in the 1.3350 area but failed to close above 1.3305.
On Tuesday, EUR/USD formed a candlestick with a small body and long upper and lower wicks - this is a sign of the market’s uncertainty.
CHF/JPY has recently broken below the support line from May lows.
It turns out that the Swiss National Bank is buying foreign currency in order to limit the appreciation of the CHF.
Two scenarios for EUR/JPY
The stock of Apple formed a bearish candlestick with a very long upper shadow on W1 and closed below the 2018-2019 resistance line.
USD/CHF looks like it has more scope for downside: the pair hasn’t reached support yet.