AUD/USD and Gold

More good news for gold. The HUI index is attacking the resistance of 250 points; an upward break would be a significant bullish signal for XAU.

 

The worst month of the year is coming to an end for Aud. Considering that the US rates have reached the key resistance level, the rise of gold can now restart.

 

Fundamental week for the Aussie, with the RBA meeting and the Parliament elections.

 

The terrible month for the Aussie is finished but without a lower low than that of the beginning of August (0.8848). Possible bullish head and shoulder figure in formation with neck line in area 0.92.

 

At the moment, gold has just to wait the maximum point of Americans yields in the coming weeks. If and when the rates maneuver starts, then gold will be able to rise strongly over 1500.

 

At the moment no reaction to the victory of the political opposition in Australia. AudUsd is still trying the assault to the neck line of the bullish head and shoulder.

 

Bearish engulfing pattern yesterday for the Aussie, exactly on the resistance of area 0.93. New downwards in sight.

 

China data give a shot at highs again?

 

I think that the rebound of the Aussie is finished, now it's time to come back short.

 

waiting for data later, AUD and NZD are strong in asia though. If I had to take a trade right now, short EURUSD instead, or EURAUD.