Daily Market Analysis

The market is going to test the next support at 1.1529. A pullback from this level could be a starting point for an upward correction...

On the daily chart of XAU/USD, bulls couldn’t break the resistance at 1,216 and hold the pair above 1,209.

On the daily chart of USD/CAD,  bears couldn’t break the support at 1.2885 and keep the pair below 1.296.

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; an irregular dead cross of Tenkan-sen and Kijun-sen with rising Kijun-sen.

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan.

On September 4, the Reserve Bank of Australia will release the interest rate.

The market is likely going to test the closest resistance at 111.24. This level could be a starting point for a decline towards 110.58...

The market is likely going to test the nearest support at 1.1560. A pullback from this level could lead to an upward correction...

The main intraday target is the next support at 1.2880 - 1.2844. Meanwhile, if a pullback from this level happens next...

All the Moving Averages have acted as support. Even so, the pair is likely going to test the next support at 1.1574 - 1.1529...

The inability of bulls to stay in the previous consolidation range of 0.7320-0.7470 pointed at their weakness.

On the daily chart, NZD/USD keeps forming a “Head and shoulders” and AB=CD with a target at 161.8%.