Intraday Analysis – USD under renewed pressure
EURUSD pops higher The US dollar plunged after the Fed’s 25 bp hike raised hopes that the peak rate is getting closer. On the daily chart, the euro has bounced off the 20-day SMA (1.0800) as it sought to preserve its gains above last May’s high of 1.0780. A sharp break above […]
XAU/USD eyes $1,900 and US CPI on renewed upside – Confluence Detector
Gold price looks north, as US Dollar licks its wounds amid sluggish Treasury yields. Markets turn cautious amid expectations of a softer US CPI report. Gold bulls stay hopeful whilst above critical $1,825 support, eye $1,850 again. Gold price is holding near eight-month highs, as bulls seek another to take on the $1,900 barrier ahead […]