AUD/NZD Retests 5-Year Inflection Point. Biden-Trump Spread Widens

AUD/NZD suffered its biggest one-day decline since March and is now retesting a key inflection point. The latest polls show a widening Biden-Trump spread – but there’s a caveat.
Source: News FX

Australian Dollar Price Forecast: AUD/JPY Eyes Bullish Continuation

Continued risk appetite has allowed the Australian Dollar to make headway against the Japanese Yen, staging a bullish break out above horizontal resistance. Here are the levels to watch.
Source: News FX

Gold Outlook: XAU/USD Price Action Probes Big Support Zone

Gold edged lower during Wednesday’s trading session as the US Dollar climbed and weighed negatively on XAU/USD price action, but the precious metal looks supported by a major technical level.
Source: News FX

US Dollar Price Forecast: USD Bounce Runs into ST Resistance

The US Dollar has finally found some element of support. The big question now is whether it can hold into the Friday NFP report.
Source: News FX

Canadian Dollar Price Forecast: USD/CAD Tests Key Fibonacci Support

After eight consecutive weeks of gains, Loonie loses momentum after falling into key Fibonacci support
Source: News FX

ZAR Momentum Halted by Resurgent USD, JSE Top 40

The US dollar climbed back above 92.50, which has lifted USD/ZAR while the JSE Top 40 trades higher after yesterday’s bullish move.
Source: News FX

EUR/GBP Price Outlook: Support Broken as Euro Weakness Weighs Further

The ECB is becoming more concerned by a lack of price pressures, undermining the single currency, and sending EUR/GBP to a near three-month low.
Source: News FX

FTSE 100 Bounces Off Support on Sterling Weakness and Risk-on Sentiment but Client Positioning Remains Heavily Crowded

The FTSE 100 has bounced back into its multi-week trading range, aided by a weaker Sterling and a robust bounce back in UK house prices. Bank of England and EU/UK trade commentary later in the sess…
Source: News FX

British Pound (GBP) Latest: GBP/USD Backs Off 1.35, May Try Again

GBP/USD has fallen back after almost touching psychological resistance at 1.35 Tuesday but remains well placed to challenge that level again, perhaps later this week.
Source: News FX

AUDUSD analysis for 02.09.2020

Gross Domestic Product came lower than forecasted in Australia. The US will release ADP Non-Farm Employment Change, Factory Orders and Crude Oil Inventories.
The support rests at 0.73360 with resistance at 0.73960 which both lines are above the weekly pivot point at 0.72940. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards level 50, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
The support level breakthrough will confirm the bearish trend towards 0.72900; otherwise, AUDUSD will continue its bullish trend.

Source: fxglory