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AUD/USD, GOLD and UK100

By Research Team Tuesday, Aug 9, 2022
AUD/USD

    • 9.35amW1
    • High0.69934
    • Low0.69697
    • Close0.69776

AUD/USD is trading at 0.69890, 0.02% down since previous day close. The Aussie slightly gained on Tuesday post release country’s NAB Business Confidence data which climbed to 7 from 2 in the previous month while the Westpac Consumer Sentiment remained steady at -3.0%. Globally, the result of U.S inflation data will remain vital for major currencies which is due to be released on Wednesday. The pair tested higher levels last week amid chances of slowdown in rate hike process as mentioned by Fed Chair in last meeting. As seen in the weekly chart, the pair is trading near MA (10) & MA (20) which shows the possibility of reversal if sustained or a strong breakout if breached.

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Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.71878
R2 0.70764
R1 0.70324
Turnaround 0.69650
S1 0.69210
S2 0.68536
S3 0.67422
By Research Team Tuesday, Aug 9, 2022
GOLD

    • 10.10amD1
    • High1790.22
    • Low1783.24
    • Close1785.66

Gold is trading at $1786.20, 0.09% up since previous day close. The precious metals seem to be trading higher near $1800 mark against steady USD as traders waits for the result of U.S CPI data which is to be issued on Wednesday. This will widely contribute in the FOMC interest rate hike decision in the next meeting in the month of September. Last week, the Gold surges up after FOMC Chair Powell hinted for gradual rate hike stance in near future after hiking an interest rate by 75bps. However, the rising conflicts between China & Taiwan may push up the safe haven instruments higher. As seen in the chart, the Gold reversed up after testing the lower levels & hence, buying on corrective dips may be seen further.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 1822.24000
R2 1802.94000
R1 1796.10000
Turnaround 1783.64000
S1 1776.80000
S2 1764.34000
S3 1745.04000
By Research Team Tuesday, Aug 9, 2022
UK100

    • 9.55amD1
    • High7449.3
    • Low7426.9
    • Close7437.9

UK100 is trading at 7438.3, 0.18% up since previous day close. The mixed trading can be seen in UK100 amid buying pressure in other global peers. The traders & investors expect a rate hike of more 75bps in the next Fed meeting despite strong U.S NFP data release. Last week, the better earnings results & cooling down Oil prices led buying pressure in equity markets. The U.K’s BRC Retail Sales Monitor grew by 1.6% against the expectation -1.5%. Besides this, ongoing process of U.K Prime Minister Elections & U.S CPI data release event will remain significant for UK100 & Pound as well. As seen in the chart, the UK100 is trading above the short term Moving Averages of period 10 & 20 which indicates the further buying in UK100 on daily basis.

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Daily Outlook

UK100

Intra Day
Near Day

Technical Levels

R3 7572.60000
R2 7503.60000
R1 7467.33000
Turnaround 7435.00000
S1 7398.00000
S2 7366.20000
S3 7297.40000
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