AUDUSD

Bears have decided to show themselves at the 50% retracement level and 0.7500 handle, and are looking to stage a comeback with selling pressure re-entering the market as we see the RSI and price diverging. Bears will look to defend 0.7500 with an eye on 0.7450, 0.7400 and 0.7350. However, bulls will be reluctant to give up their current momentum and should they recapture 0.7500 will be hunting the 38.2% retracement level at 0.7575 with interim targets at 0.7550.



 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7372 0.7401 0.7446 0.7475 0.7520 0.7549 0.7594
WEEKLY 0.6991 0.7068 0.7218 0.7295 0.7445 0.7522 0.7672
MONTHLY 0.7130 0.7346 0.7517 0.7733 0.7904 0.8120 0.8291
 

GBP/USD

The Cable continues to range between 1.4350 and 1.4700 for the better part of 7 weeks as markets remain poised for the BREXIT vote with fundamental leading to whipsaw as new news is digested. Currently the pair is back in the middle at 1.4500 and will remain there till either side makes a move. Upside targets are at 1.4550, 1.4600 and 1.4650. Downside targets are at 1.4450, 1.4400 and 1.4350.



 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4377 1.4439 1.4477 1.4539 1.4577 1.4639 1.4677
WEEKLY 1.4022 1.4203 1.4362 1.4543 1.4702 1.4883 1.5042
MONTHLY 1.3842 1.4086 1.4282 1.4526 1.4722 1.4966 1.5162
 

USDJPY

The USDJPY has tapered off from its heavy selling pressure and is consolidating between the 106.50 and 107.50 levels as markets re-balance. Should bulls break above the trend line, capturing 107.00, we would see further upside with targets at 107.50, 108.00 and 108.50. However, should bears break below 106.50, we would see a continuation to 105.00 with interim targets at 106.00 and 105.5.



 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 105.79 106.19 106.48 106.88 107.17 107.57 107.86
WEEKLY 99.90 103.19 104.86 108.15 190.82 113.11 114.78
MONTHLY 101.06 103.29 107.00 109.23 112.94 115.17 118.88
 

GOLD

Gold has retraced over 60% of last week more than 100 USD drop and is currently testing the 38.2% fibo level in conjunction with the RSI and price showing bearish divergence as bears step in to try control the damage. Bears will be looking to capture 1250 as a stepping stone to retaking some of last month’s gains with interim targets at 1255 and 1260. However, bulls will be reluctant to give up their current momentum and will look to recapture 1265 with hopes of driving prices deeper into positive territories with targets at 1270.




TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1231.94 1239.62 1253.59 1261.27 1275.24 1282.92 1296.89
WEEKLY 1165.74 1182.37 1211.24 1227.87 1256.74 1273.37 1302.24
MONTHLY 1069.00 1134.00 1174.40 1239.40 1279.80 1344.80 1385.20