Crédit Agricole: USD Growth Isn't Over Yet
The rally of the US dollar has stopped for a while. That allowed risk-on assets (GBP, NZS, AUD, stocks) and also gold to recover some losses.
XAU/USD at the new highs
2020-06-24 • Updated
XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down. There’s a cluster of candlesticks above $1,765, they have long lower wicks – a sign that buyers don’t give up. This may lead the price to 1,775. The next resistance will be at 1,780. The slide below 1,765 will meet support at 1,759.
Trade ideas for XAU/USD
SELL 1,764; TP 1,759; SL 1,766
BUY 1,772; TP 1,775; SL 1,771
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