Key Levels Being Tested In Thursday Trading

• 12 Oct 2017

GOLD

Gold prices have broken a previous support level at the 1291.62 price level and the 20 period EMA. The break was met with a spike in volume and RSI has a clear upward trajectory. A break of the zero line to the upside on MACD would confirm the uptrend.

AUD/CAD

The AUD/CAD has bounced back from the lower Bollinger band to break the 0.971 price level with the next price target at 0.978. Volume has been rising in recent trading sessions and RSI has sharply rebounded from the 30 support level. A candle closing above the 30 line will provide confirmation of the reversal.

USD/CHF

The USD/CHF pair has broken the 0.973 price level and is now approaching the 20-period EMA which has been acting as a support for the last month or so. RSI has a downward trajectory and MACD has flattened yet remains above the zero line. A break of the 20-period EMA will be required to provide weight to the downtrend.

AUD/USD

The AUD/USD pair is testing the 0.781 price level as a previous downtrend appears to be reversing. The reversal is confirm by RSI bouncing back from the 30 support level. MACD appears to have decelerated indicating that sentiment is turning more bullish.