In this article, we will provide a fundamental and technical overview of four major currency pairs and the price of gold.
EUR/USD: The Euro to US Dollar exchange rate has been trading within a range as market participants await the European Central Bank’s monetary policy decision. The pair is currently consolidating near the 1.18 level, with key support at 1.1750 and resistance at 1.1850.
USD/JPY: The US Dollar to Japanese Yen pair has been trading in a range as well, with investors closely watching the Bank of Japan’s policy stance. The pair is currently hovering around the 110.50 level, with support at 110.00 and resistance at 111.00.
AUD/USD: The Australian Dollar to US Dollar pair has been under pressure due to concerns about the economic impact of the Delta variant of Covid-19 in Australia. The pair is currently trading near the 0.7350 level, with support at 0.7300 and resistance at 0.7400.
Gold: The price of gold has been range-bound as investors assess the impact of inflation and the Federal Reserve’s monetary policy. The precious metal is currently consolidating near the $1800 level, with support at $1775 and resistance at $1825.
Overall, these currency pairs and gold are influenced by a combination of fundamental factors such as central bank policies, economic data releases, and geopolitical events, as well as technical factors like support and resistance levels. Traders should closely monitor these factors to make informed trading decisions.