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The short-term technical outlook for Gold price leans in favor of buyers with ‘buy-the-dip’ trading likely to continue. As the Bull Flag remains in play, Gold price keeps the measured target at $2,251 in sight. Before that level, Gold price needs to recapture the $2,200 threshold on a daily closing basis. Acceptance above that level will put the record high at $2,223 at risk. The 14-day Relative Strength Index (RSI), is flirting with the overbought threshold, suggesting that there is enough room for the upside.    On the flip side, any retracement will likely find immediate support at the March 22 low of $2,157, where the bullish 21-day Simple Moving Average (SMA) aligns. Further down, the $2,147 support will be a tough nut to crack for Gold sellers. The last line of defense for Gold buyers is seen at the $2,140 round figure.

AUD/USD Price Analysis: Technical outlook After Waller’s remarks, the AUD/USD pushed far below the 200-day moving average (DMA) of 0.6547, with the pair aiming to challenge Wednesday’s lows of 0.6511. Further weakness will drive the pair to test 0.6500, followed by the March 5 low of 0.6477, ahead of the February 13 low of 0.6442. Otherwise if buyers reclaim the confluence of the 200-DMA and the 50-DMA, that could open the door to challenge the 100-DMA at 0.6592.

Switching to the hourly chart, the RSI moved towards its middle point but then retreated towards 40, implying a modest bias towards the buyers. In addition, the MACD histogram prints green bars which offer additional evidence of buyers gathering momentum.

EUR/USD Price Analysis: Technical outlook The EUR/USD break below the 200-day moving average (DMA) at 1.0836 cleared the path to challenge 1.0800, but thin volumes kept the exchange rate above 1.0810 the day’s low. Nevertheless, the Relative Strength Index (RSI) remains bearish and aims lower. That said, the pair bias remains bearish. If sellers drag prices below 1.0800, the pair could challenge the February 14 low of 1.0694. On the flip side, buyers reclaiming  1.0836, the 200-DMA further upside is seen at the 100-DMA at 1.0873 ahead of 1.0900

In Wednesday's session, EUR/JPY is trading with mild losses at 163.75. Despite uncertainties, the broader market sentiment appears to favor the buyers, given the pair's dominant position above its key Simple Moving Averages (SMAs) of 20,100 and 200 days. However, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators signal an upcoming shift in momentum, hinting at increased strength in selling pressure.

Gold price resumed its uptrend on Wednesday after diving to a weekly low of $2,163 on Monday, capitalized by buyers, which lifted the yellow metal prices near the $2,200 figure. The Relative Strength Index (RSI), aiming higher, suggests that bullish momentum builds, If traders clear the aforementioned level, a test of the all-time high at $2,223 is on the cards. On the flip side, if sellers push prices below the December 4 high, which turned support at $2,146, that could exacerbate a sell-off and send XAU/USD prices diving toward $2,100. The next support would be the December 28 high, which is $2,088.

Technically, XAU/USD is up for a third consecutive day, which skews the risk to the upside. The pair keeps posting lower lows while advancing above bullish moving averages. The 20 Simple Moving Average (SMA) maintains a firmly bullish slope far above the longer ones and provides dynamic support at around $2,154. Meanwhile, technical indicators grind higher within positive levels, in line with bulls’ dominance. In the near term, and according to the 4-hour chart however,XAU/USD is neutral-to-bullish. Technical indicators head nowhere but hold well above their midlines, limiting the odds for a bearish movement. At the same time, the pair met intraday buyers around a mildly bullish 20 SMA, which develops above bullish longer ones. Support levels: 2,183.40 2,169.50 2,154.00 Resistance levels: 2,200 2,211.70 2,222.80

The USD/CAD keeps trading within an ascending channel, printing higher highs and higher lows, yet with price action limited below an important resistance area at 1.3615. The 50% Fibonacci retracement of the late 2023 sell-off and the trendline resistance are challenging bulls at this level. On the downside, bearish attempts are limited at 1.3550 so far, with the next support areas at 1.3525 and the base of the channel at 1.3440.

• Australian Dollar extends gains on positive economic data from Australia. • Australian Employment Change surged to 116.5K in February, exceeding expectations of 40.0K. • US Dollar weakens following the Fed's reaffirmation of expectations for three interest rate cuts in 2024. The Australian Dollar (AUD) continued its upward momentum for the second consecutive session on Thursday, likely buoyed by positive employment data from Australia. Concurrently, the US Dollar (USD) saw a significant decline following the Federal Open Market Committee's (FOMC) decision to maintain rates at 5.5% during Wednesday's policy meeting. This decision provided support for the AUD/USD pair. Furthermore, remarks made by US Federal Reserve (Fed) Chair Jerome Powell in the post-meeting press conference, signaling a dovish stance, exerted additional downward pressure on the Greenback.

XAU/USD SELL HOLDING 📉 30+PIPS BLUE 💸