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
- EUR/USD: The Advantage Remains with the Dollar Jun 29, 2026
- Escalation of the US–Iran conflict is once again supporting the rise in oil prices Jun 29, 2026
- Oil prices fall back to pre‑war levels. Silver drops to a 7‑month low Jun 25, 2026
- Gold Falls to an Eight-Month Low: This May Not Be the Bottom Jun 25, 2026
- Stock indices came under heavy selling pressure amid growing skepticism about AI investments Jun 24, 2026
- The Pound Is Pressured Not by Politics, but by a Strong US Dollar Jun 24, 2026
- Global crude oil prices continued to decline. The AUD/USD exchange rate hit an 11‑week low Jun 23, 2026
- EUR/USD Remains Under Sellers’ Control as the Dollar Stays Strong Jun 23, 2026
- Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? Jun 22, 2026
- Bank Indonesia raised its interest rate. Norges Bank and the SNB left rates unchanged Jun 19, 2026
