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AUD Loses Its Shine As Gold Pulls Back

AUSSIE

AUD strength has faded somewhat, as precious metals retreated from highs,
possibly on the back of profit taking after gold futures (Z0) tested 2,000.

  • AUD/USD failed to test the aforementioned $0.7182 level and took a dip,
    last trades -15 pips at $0.7134.
  • AUD/JPY has erased earlier gains, last deals at Y75.32, almost unchanged.
    Bears eye Jul 24 low of Y74.87 for initial support and a brek here would open
    Jul 16 low of Y74.68. Bullish focus remains on Jul 22 high of Y76.87.
  • AUD/NZD last +13 pips at NZ$1.0708, familiar technical picture remains in play.

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