Gold to maintain $1,930 support on mixed growth, Fed concerns …
EURUSD
EUR/USD is trading above 1.0700, as bulls keep the reins for the second consecutive day early Thursday. The major currency pair fails to justify looming economic fears and upbeat US Treasury bond yields amid a broadly weaker US Dollar. Final Eurozone Q1 GDP eyed.
If the pair continues the uptrend to the range of 1.0774, it is expected to continue the uptrend to the range of 1.0807.
On the other hand, If the pair continues the downtrend to the range of 1.0665, it is expected to continue the downtrend to the range of 1.0632.
USDJPY
The USD/JPY pair struggles to capitalize on the overnight goodish rebound from the 139.00 mark, or the weekly low and meets with some supply during the Asian session on Thursday. Spot prices currently trade around the 139.85 area, down nearly 0.20% for the day.
if the pair continues the uptrend to the range of 140.61, it is expected to continue the uptrend to the range of 141.04.
On the other hand, If the pair continues the downtrend to 139.39, it is expected to continue the downtrend to 138.60.
GBPUSD
GBP/USD buyers occupy driver’s seat around 1.2450, despite marking a slow run towards the north heading into Thursday’s London open. The Cable pair buyers cheer the receding odds of a Fed rate hike in June while early signals for the Bank of England’s (BoE) interest rate guide appear mixed.
If the pair continues the uptrend to the range of 1.2494, it is expected to continue the uptrend to the range of 1.2549.
On the other hand, if the pair continues the downtrend to 1.2389, it is expected to continue the downtrend to 1.2339.
AUDUSD
The AUD/USD pair has displayed a less-confident recovery to near 0.6620 in the early European session after a vertical sell-off from 0.6717. The Aussie asset seems prone to more losses as gains propelled by a surprise interest rate hike by the Reserve Bank of Australia (RBA) have started waning.
If the pair continues the uptrend to the range of 0.6699, it is expected to continue the uptrend to the range of 0.6746.
On the other hand, if the pair continues the downtrend to 0.6624, it is expected to continue the downtrend to 0.6596.
XAUUSD
Gold seesaws around intraday high as it prints mild gains after falling the most in a week the previous day. Even so, the XAU/USD remains indecisive on a weekly basis as the markets struggle for clear directions amid the pre-Fed blackout and mixed feelings about global growth concerns.
If the pair continues the uptrend to the range 1960.15, it is expected to continue the uptrend to the range of 1980.36.
On the other hand, if gold continues the downtrend to the range of 1929.82, it is expected to continue the downtrend to the range 1919.70.
