USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
XAU/USD: important technical levels
SELL 1,500; TP 1,490; SL 1,503
BUY 1,510; TP 1,515; SL 1,508
XAU/USD ran into the resistance area around $1,515 which has been limiting the upside since the start of October - gold hasn’t closed above this level on the D1. The price is currently testing support of the 50-day MA at $1,503. The decline below this level should trigger a correction down to $1,490 (support line from October lows). In the short-term, XAU/USD will have another go on $1,515 if it rises above the 50-hour MA in the $1,510 area. A close above $1,515 or a break of $1,520 is needed to open the way up to $1,530.
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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