By Orbex
XAUUSD grinds rising trendline
Gold recovered after the first round of peace talks between Ukraine and Russia ended without a resolution. The precious metal found support over 1885.
The rising trendline from early February indicates that the general direction is still up despite a choppy path. The previous peak at 1974 is now a fresh resistance and its breach could send the price to the psychological level of 2000.
The downside risk is a fall below the said support. Then 1852, near the 30-day moving average, would be the bulls’ second line of defense.
AUDUSD attempts reversal
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 steadied after the RBA warned that energy prices could flare up inflation.
A break above the previous high (0.7285) shows buyers’ strong commitment despite sharp liquidation. Sentiment swiftly recovered and may attract more buying interest. An overbought RSI may temporarily limit the upside. And the bulls could be waiting for a pullback to accumulate.
0.7220 is the closest support. A bullish close above the January peak at 0.7310 could initiate a reversal in the medium-term and extend gains towards 0.7400.
CADJPY bounces back
The Canadian dollar clawed back losses after the Q4 GDP beat expectations. A jump above 90.70 has prompted sellers to cover their bets, opening the door for a potential reversal.
91.10 is the next resistance and its breach could propel the loonie to this year’s high at 92.00. On the downside, the psychological level of 90.00 is a key support to keep the rebound relevant.
Otherwise, a drop to 89.30 would suggest that sentiment remains fragile. In turn, this would place the pair under pressure once again.
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 Eurozone has shown a significant slowdown in inflation. Australia has recorded its largest trade deficit since 2015 Jul 2, 2026
- Natural gas prices are rising amid increasing electricity consumption Jul 1, 2026
- USD/JPY at 40-Year High: Multiple Factors Weigh on the Yen Jul 1, 2026
- Gold Declines: Fed Policy and Geopolitics Weigh Jun 30, 2026
- Oil prices have once again risen above 70 dollars per barrel. The Australian dollar has updated a three‑month low Jun 30, 2026
- 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
