Daily Technical Analysis

Introduction: 

Welcome to our daily technical analysis of the financial markets, focusing today on AUD/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.  

1. AUD/USD Analysis:  

News Summary: 

Inflation in Australia rose more than expected in September, driven by petrol and rental prices, and core inflation also exceeded expectations, which is raising the risk that the Reserve Bank of Australia may raise interest rates further. The data showed that Australia CPI quarterly rate in the third quarter was 1.2%, higher than the market consensus of 1.1%, and annual inflation rate dropped from 6.0% to 5.4%, but still higher than the 5.3% expectation.  

Trend Analysis: 

We can see AUD/USD skyrocketed after the release of CPI data and is currently in an oscillation phase. The lower support level is 0.6275, investors can pay attention to this area. If price is approaching the 0.6400 mark, the short position could be established when there are signs of weakness.     

Today's Key Price Levels: 

Key Support Levels: [0.6270] 

Key Resistance Levels: [0.6450] 

Pivot Points [0.6330] 

2. Gold Analysis:  

News Summary: 

The gold price has become more closely tied to global money supplies if ignoring interest rates increase and surging bond yields. Gold loves low interest rates, high inflation, a booming money supply and strong global demand, but it seems willing to shrug off the effect of high interest rate. Although interest rates are soaring, the gold price is not care. Since gold price is undervalued based on the money supply.  

Trend Analysis: 

We can see the gold soared in the past two weeks, it is driven by political risk and positive momentum. Currently, gold has reached an over stretched state in the short-term upward stage on H4 chart, which increases the risk of a correction. We need to concentrate on the key resistance level of $2,000, sell limit is suitable, stop loss is necessary.    

Today's Key Price Levels: 

Key Support Levels: [1950.00] 

Key Resistance Levels: [2000.00] 

Pivot Points [1987.00]