The major currencies (EUR, GBP, AUD) seem to be in a consolidation phase with potential for corrections or continuations of their current trends depending on upcoming news events. JPY might experience further bullish momentum. The impact of the RBNZ interest rate decision on NZD/USD is uncertain.

British Pound (GBP):

• Current Price: Trading around 1.2705 level
• Trend: Bullish with potential for correction
• Key Levels:
  • Support: 1.2697, 1.2646
  • Resistance: 1.2722, 1.2800, 1.2817
• Analysis: Similar to EUR/USD, GBP/USD may experience a correction if it hits resistance. Governor Bailey’s speech and Fed comments could influence direction.
• Forecast: Watch for a potential sell-off if it breaks below 1.2685, or a possible buy signal if it rebounds from the support area with a target of 1.2722.
• Key Events: Speeches by Fed representatives and the Governor of the Bank of England might impact the market.

Japanese Yen (JPY):

• Current Price: Likely around 155.75 level
• Trend: Bullish with potential for correction
• Key Levels:
  • Resistance: 157.00, 158.00
• Analysis: JPY may face a pullback after recent gains. Marlin oscillator weakness suggests a potential reversal.
• Forecast: Watch for a potential sell-off if it breaks below a support level or struggles to reach resistance levels.

Australian Dollar (AUD):

• Current Price: Trading around 0.6660 level
• Trend: Neutral
• Key Levels:
  
  • Support: 0.6633, 0.6611
  • Resistance: 0.6745, 0.6797
• Analysis: The Australian dollar reacted mildly to RBA minutes. Focus remains on inflation and Fed commentary.
• Forecast: Limited movement expected. Watch for potential support or resistance levels to be broken.

New Zealand Dollar (NZD):

• Current Price: Trading around 0.6102 level
• Trend: Uncertain
• Key Levels:
  
  • Resistance: 0.6170 – 0.6260
• Analysis: RBNZ interest rate decision is the main event. Inflation remains high, but economic data shows weakness. Rate cut unlikely in the short term.
• Forecast: Market reaction will depend on RBNZ decision and commentary. Watch for potential support or resistance levels to be broken.

Gold (XAU):

• Overall Trend: Bullish with some short-term correction possible.
• Key Levels:
  • Support Levels: $2,395, $2,377
  • Resistance Levels: $2,450, $2,500
• Analysis: The uptrend channel suggests continued bullish momentum with potential to reach $2,500. The recent price action suggests a potential short-term correction within the overall uptrend.
• Forecast: Sell below $2,435 Wait for Buy: Confirmation needed above $2,437 for continued uptrend.
• Key Events: Geopolitical tensions, like the recent events in Iran, can boost gold demand. A strengthening US dollar due to hawkish Fed policies can put downward pressure on gold prices.