XAUUSD slides away from record
Gold price retreat as the dollar held onto recent gains ahead of this week’s CPI data. A break below the daily support and the psychological level of 2500 has put buyers on the defensive. 2480 is a crucial level to see if buyers return. Otherwise, bullion might sink towards 2400. On the upside, 2515 has turned into a fresh resistance level, and only a close above 2525 would make a rebound sustainable.
AUDUSD looking for a bounce
The Australian dollar continued to struggle as the greenback gained some pips from Friday’s NFP data. The price has remained pressured after it broke below 0.6700. Consecutive lower lows are a sign of bearish momentum, which could continue to attract sellers. 0.6600 is the next target, and its breach would expose August’s low to just above the 0.6400 level. As the RSI attempts to recover to the neutral area, profit-taking could drive the pair higher, but 0.6750 is the first hurdle to signal a recovery.
GER 40 tests significant support
The sell-off came to a halt for the index after a bounce at 18200, which saw the Dax regain a foothold on its recent rally. A combination of bargain hunting and short-term sellers’ profit-taking has led to a bounce, with 18600 as the first hurdle to clear and ease the downward pressure. Then, the top of a previously faded top at 18900 is the ceiling to lift to help the bulls regain control. 18000 is the closest support to keep the current momentum intact.