AUD/USD Price Analysis: Aussie surrenders gains

AUD/USD pulls back from the multi-year high of 0.7908.
The hourly chart indicators show scope for a deeper drop.

Omkar Godbole FXStreet Contributor

AUD/USD now trades largely unchanged on the day near 0.7875, having put in a multi-year high of 0.7908.

The hourly chart shows a bearish divergence of the Relative Strength Index (RSI). Further, the hourly chart MACD histogram has crossed below zero, indicating a bearish reversal.

Hence, the AUD could see a further decline toward 0.7850, under which the focus would shift to the 50-hour Simple Moving Average, currently at 0.7803.

Hourly chart

Trend: Pullback

Technical levels

XAU/USD

Overview
Today last price	1783.61
Today Daily Change	1.57
Today Daily Change %	0.09
Today daily open	1782.04

Trends
Daily SMA20	1823.3
Daily SMA50	1853.19
Daily SMA100	1864.08
Daily SMA200	1859.14

Levels
Previous Daily High	1791.68
Previous Daily Low	1760.72
Previous Weekly High	1827.11
Previous Weekly Low	1760.72
Previous Monthly High	1959.42
Previous Monthly Low	1802.8
Daily Fibonacci 38.2%	1779.85
Daily Fibonacci 61.8%	1772.55
Daily Pivot Point S1	1764.61
Daily Pivot Point S2	1747.19
Daily Pivot Point S3	1733.65
Daily Pivot Point R1	1795.57
Daily Pivot Point R2	1809.11
Daily Pivot Point R3	1826.53

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD holds lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.