XAUUSD continues higher
Gold continues to grind higher to push for another record high after falling short at 2480. The gold price today remains bullish after hitting another record due to the Fed hinting at rate cuts sooner rather than later. N overbought RSI could see limited pullback, but all eyes are set for a test at 2500. Otherwise, a fall below the fresh support 2445 would open the door to 2440.
USDCAD struggles at golden ratio
The Canadian dollar softened after mixed CPI data. The pair struggles to lift the 61.8% resistance area around the 1.3700 zone. The buy side is trying to get back into the game from 1.3590, and a close above 1.3660 is an encouraging sign. However, they need to clear the consolidation area to turn the situation around for a full retracement to 1.3760. On the downside, a move back down to the recent bottom at 1.3600 is the first support.
NZDUSD under pressure
The New Zealand dollar continues to fall after moving through the 0.6100 level. A brief pullback after hitting 0.6035 gave hope for a turnaround. However, this was short-lived as another sell-off ensued. This means the sell side pushes for a deeper correction in the medium term. 0.6070 has offered some support but its breach would trigger a new round of liquidation and make 0.6000 the next target. 0.6120 is a fresh resistance, as an oversold RSI could cause a limited rebound.