USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
XAU/USD: a slight recovery
BUY TP1 1233.60; TP2 1238.40; SL 1226.
The market risk sentiment improved after the G20 meeting. While risk-sensitive currencies like AUD and NZD try to figure out whether to close gaps or not, the USD is strengthening versus gold.
Technical indicators on W1 are bullish. A candlestick with a long lower wick formed last week means that XAU/USD enjoyed buying interest.
On D1, 50-day MA went above the 100-day one. The pair’s actively testing the resistance line. Targets lie at 1233.68 (200-week MA) and 1238.44 (38.2% Fibo).
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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