By Orbex
XAUUSD tests resistance
Gold hit a speed bump after an upbeat ISM Services PMI boosted the dollar’s appeal.
The metal saw buying interest in the major demand zone around 1720. A bullish RSI divergence indicates a slowdown in the pace of the sell-off. The initial surge above 1745 could be due to profit-taking from the short side, a prerequisite for a reversal.
1775 is the main hurdle and its breach may lead to the psychological level of 1800. On the downside, the area between 1720 and 1740 is the floor to keep price action afloat.
AUDUSD attempts to rebound
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
The Australian dollar consolidated its gains after the RBA played down the rate-hike pressure.
The rally above 0.7250 has prompted short-term traders to take some chips off the table. However, the bulls will need to clear the main hurdle at 0.7310 before they could extend upward. The RSI’s double top in this congestion area may momentarily restrain their optimism.
In case of a pullback, 0.7190 is a key support to keep the rebound relevant. Failing that, the pair could tumble towards the daily support at 0.7120.
NAS 100 breaks key support
The Nasdaq 100 struggles as investors rotate out of growth stocks amid an uncertain outlook.
The break below last July’s low (14450) has pushed the index into a deeper correction. A bearish MA cross on the daily chart points to a downgrade in market sentiment.
An oversold RSI has caused a temporary rebound, which would be an opportunity for trend followers to sell into strength. 14330 is the next support. Short-term traders who are brave enough to buy the dips must push through 14850 to secure a foothold.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- The Middle East conflict is already driving inflation higher across the world Apr 24, 2026
- Gold Falls Nearly 3.0% Over the Week Amid Geopolitical Pressure Apr 24, 2026
- The diplomatic deadlock between the US and Iran is undermining investors’ appetite for risk Apr 23, 2026
- EUR/USD Falls for Third Day as Geopolitics and Strong Dollar Dictate Terms Apr 23, 2026
- Negotiations between the US and Iran have failed. Oil prices are back above 90 dollars per barrel Apr 22, 2026
- USD/JPY Pulls Higher: Yen Doubts Bank of Japan Apr 22, 2026
- NZD and CAD strengthen amid rising inflationary pressure Apr 21, 2026
- Pound Declines Amid Geopolitics and Political Risks Apr 21, 2026
- EUR/USD Starts the Week Higher, but the Outlook Remains Unstable Apr 20, 2026
- The situation in the Strait of Hormuz remains uncertain Apr 20, 2026
