Gold, Silver, AUD/USD Technical Analysis for CPI Week
As we look ahead to the upcoming week, traders are keeping a close eye on the technical analysis for gold, silver, and the AUD/USD pair. These markets are expected to be influenced by the release of Consumer Price Index (CPI) data.
Gold has been trading in a range between $1,700 and $1,750 per ounce. Traders are watching for a breakout above or below this range to determine the next direction for the precious metal. A move above $1,750 could signal a bullish trend, while a drop below $1,700 could indicate a bearish trend.
Silver has also been trading in a range, between $25 and $26 per ounce. Like gold, traders are looking for a breakout to determine the next move for silver. A break above $26 could lead to a bullish trend, while a drop below $25 could indicate a bearish trend.
The AUD/USD pair has been trading in a range between 0.7700 and 0.7800. Traders are closely monitoring this range for a breakout, which could signal the next move for the currency pair. A move above 0.7800 could lead to a bullish trend, while a drop below 0.7700 could indicate a bearish trend.
Overall, traders are advised to keep a close eye on the technical analysis for gold, silver, and the AUD/USD pair as they navigate the upcoming CPI week. A breakout above or below key levels could provide valuable insight into the future direction of these markets.