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Daily Pivots: (S1) 1.7374; (P) 1.7410; (R1) 1.7430; More...

Intraday bias in EUR/AUD remains neutral for the moment. Risk will stay on the downside as long as 1.7477 support turned resistance holds. Current decline is seen as the third leg of the corrective pattern from 1.8554. Below 1.7287 will target 1.7245 support, and then 1.6922 fibonacci level. Nevertheless, firm break of 1.7477 will indicate short term bottoming, and bring stronger rebound back to 55 D EMA (now at 1.7636).

In the bigger picture, the break of 55 W EMA (now at 1.7468) argues that fall from 1.8554 medium term top is already correcting whole up trend from 1.4281 (2022 low). Deeper decline is in favor to 38.2% retracement of 1.4281 to 1.8554 at 1.6922, and possibly below. Risk will stay on the downside as long as 1.8160 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 0.9311; (P) 0.9319; (R1) 0.9329; More....

Intraday bias in EUR/CHF is turned neutral again with current retreat. On the downside, break of 0.9268 support will revive near term bearishness. Fall from 0.9394 should resume to retest 0.9178 low. Nevertheless, break of 0.9324 will extend the rebound form 0.9268 to 0.9394 resistance instead.

In the bigger picture, persistent bullish convergence condition in W MACD is a medium term bullish sign. Firm break of 0.9394 resistance should bring sustained trading above 55 W EMA (now at 0.9362). That should indicate medium term bottoming at 0.9178. Further break of 0.9452 resistance will bring stronger medium term rally towards 0.9928 resistance next, even still as a corrective bounce. Nevertheless, rejection by 55 W EMA will retain bearishness for another fall through 0.9178 at a later stage.

Daily Pivots: (S1) 1.3879; (P) 1.3899; (R1) 1.3937; More...

A temporary top is formed at 1.3917 with current retreat, and intraday bias is turned neutral in USD/CAD. Further rise is expected as long as 1.3789 minor support holds. Rise from 1.3641 is seen as the third leg of the corrective pattern from 1.3538. Above 1.3917 will target 1.4139 first. Break there will target 100% projection of 1.3538 to 1.4139 from 1.3641 at 1.4242.

In the bigger picture, price actions from 1.4791 are seen as a corrective pattern to the whole up trend from 1.2005 (2021 low). Deeper fall could be seen as the pattern extends, and break of 1.3538 will target 61.8% retracement of 1.2005 to 1.4791 at 1.3069. For now, medium term outlook will be neutral until there are signs that the correction has completed.

Daily Pivots: (S1) 0.6666; (P) 0.6685; (R1) 0.6706; More...

Intraday bias in AUD/USD remains neutral as consolidations continues below 0.6765. Further rally is in favor with 0.6659 support intact. On the upside, break of 0.6765 will resume the whole rise from 0.5913 and target 61.8% projection of 0.5913 to 0.6706 from 0.6420 at 0.6910. However, considering bearish divergence condition in 4H MACD, firm break of 0.6659 will confirm short term topping, and bring deeper correction back towards 0.6592 support.

In the bigger picture, current development argues that rise form 0.5913 (2024 low) is reversing whole down trend from 0.8006 (2021 high). Further rally should be seen to 61.8% retracement of 0.8006 to 0.5913 at 0.7206. This will remain the favored case as long as 0.6420 support holds.

Daily Pivots: (S1) 1.1615; (P) 1.1639; (R1) 1.1661; More….

Intraday bias in EUR/USD is turned neutral with current recovery. On the upside, break of 1.1807 will resume the rally from 1.1467 to retest 1.1917 high. On the downside, below 1.1617 will target 1.1467 support. Overall, price actions from 1.1917 are seen as a corrective pattern that might extend further.

In the bigger picture, as long as 55 W EMA (now at 1.1416) holds, up trend from 0.9534 (2022 low) is still in favor to continue. Decisive break of 1.2 key psychological level will carry larger bullish implication. However, sustained trading below 55 W EMA will argue that rise from 0.9534 has completed as a three wave corrective bounce, and keep long term outlook bearish.

Daily Pivots: (S1) 1.3381; (P) 1.3416; (R1) 1.3439; More...

Intraday bias in GBP/USD is turned neutral first with current recovery. On the upside, break of 1.3567 will resume the rally from 1.3008 towards 1.3787 high. On the downside, break of 1.3389 will resume the fall from 1.3567. Sustained break of 55 D EMA (now at 1.3370) will argue that the decline is another falling leg in the corrective pattern from 1.3787. In this case, deeper fall should be seen back to 1.3008 support.

In the bigger picture, price actions from 1.3787 (2025 high) are seen as a correction to the larger up trend from 1.3051 (2022 low). Deeper decline could be seen as the pattern extends, but downside should be contained by 38.2% retracement of 1.0351 to 1.3787 at 1.2474 to bring rebound. Break of 1.3787 for up trend resumption is expected at a later stage.

Daily Pivots: (S1) 156.54; (P) 156.80; (R1) 157.15; More...

Intraday bias in USD/JPY remains on the upside at this point. Current rise from 139.87 should target 161.8% projection of 142.66 to 150.90 from 145.47 at 158.80. Firm break there will pave the way to 200% projection at 161.95, which is close to 161.94 high. For now, outlook will stay bullish as long as 156.10 support holds, in case of retreat.

In the bigger picture, corrective pattern from 161.94 (2024 high) could have completed with three waves at 139.87. Larger up trend from 102.58 (2021 low) could be ready to resume through 161.94. Decisive break of 158.85 structural resistance will solidify this bullish case and target 161.94 for confirmation. On the downside, break of 154.38 support will dampen this bullish view and extend the corrective range pattern with another falling leg.

AUD/USD failed to stay in a positive zone and declined below 0.6700. NZD/USD is also moving lower and might extend losses below 0.5700.

Important Takeaways for AUD/USD and NZD/USD Analysis Today

• The Aussie Dollar started a fresh decline from well above 0.6740 against the US Dollar.
• There is an expanding triangle forming with resistance at 0.6705 on the hourly chart of AUD/USD at FXOpen.
• NZD/USD declined steadily from 0.5800 and traded below 0.5760.
• There is a key bearish trend line forming with resistance at 0.5750 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair struggled to clear 0.6765. The Aussie Dollar started a fresh decline below 0.6750 against the US Dollar.

The pair even settled below 0.6720 and the 50-hour simple moving average. There was a clear move below 0.6680. A low was formed at 0.6663, and the pair is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the 0.6766 swing high to the 0.6663 low.

On the upside, immediate resistance is near an expanding triangle at 0.6705. The next major hurdle for the bulls could be near 0.6725 and the 61.8% Fib retracement.

The main selling point could be 0.6740, above which the price could rise toward 0.6765. Any more gains might send the pair toward 0.6800. A close above 0.6800 could start another steady increase in the near term. In the stated case, the next key resistance on the AUD/USD chart could be 0.6840.

On the downside, initial support is near 0.6675. The next area of interest might be 0.6665. If there is a downside break below 0.6665, the pair could extend its decline. The next target for the bears might be 0.6620. Any more losses might send the pair toward 0.6600.

NZD/USD Technical Analysis

On the hourly chart of NZD/USD on FXOpen, the pair also followed a similar pattern and declined from the 0.5800 zone. The New Zealand Dollar gained bearish momentum and traded below 0.5770 against the US Dollar.

The pair settled below 0.5760 and the 50-hour simple moving average. Finally, it tested 0.5710 and is currently consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the downward move from the 0.5810 swing high to the 0.5711 low.

If the pair recovers, it could face hurdles near 0.5750 and a key bearish trend line. The next major barrier is at 0.5760 since it coincides with the 50% Fib retracement.

If there is a move above 0.5760, the pair could rise toward 0.5770. Any more gains might open the doors for a move toward 0.5810 in the coming days. On the downside, immediate support on the NZD/USD chart is 0.5735.

The next major stop for the bears might be 0.5710. If there is a downside break below 0.5710, the pair could extend its decline toward 0.5665. The main target for the bears could be 0.5640.

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At the opening of Monday’s session on 12 January, gold (XAU/USD) gapped higher and briefly moved above the psychological $4,600 level, setting a new all-time high.

Bullish drivers:

→ Geopolitical tensions. Following developments in Venezuela, market attention has shifted to unrest in Iran and renewed discussion around the United States’ interest in Greenland, whether through purchase or other means.

→ Renewed friction between the White House and the Federal Reserve. Over the weekend, Jerome Powell stated that he had received threats of criminal prosecution, possibly linked to his stance on interest-rate cuts, which differs from President Trump’s view.

Technical Analysis of XAU/USD

Seven days ago, on 5 January, our analysis of the gold chart:

→ identified an ascending price channel;

→ highlighted the $4,400 level;

→ outlined a scenario in which the bullish trend could resume after a rebound from the lower boundary of the channel, with $4,400 acting as support.

That scenario has played out. As indicated by the arrow:

→ the market initially pulled back from the channel median;

→ however, as prices approached the $4,400 area, selling pressure faded, and a renewed wave of bullish sentiment pushed XAU/USD to a fresh record high.

Gold is now trading in the upper half of the active ascending channel, signalling overall demand dominance. The strong morning impulse has generated overbought signals on the RSI and increased the likelihood of a pullback. That said, any correction is likely to be limited, given:

→ potential support from the channel median and the $4,500–4,516 zone;

→ a highly tense and supportive fundamental backdrop.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Daily Pivots: (S1) 0.7990; (P) 0.8004; (R1) 0.8026; More….

Intraday bias in USD/CHF is turned neutral with today's retreat and break of 0.7967 minor support. Overall outlook is unchanged that corrective pattern from 0.7828 low is extending. On the upside, above 0.8016 will target 08123 resistance next. Nevertheless, break of 0.7860 will bring retest of 0.7828, with odds of a break there to resume the larger down trend.

In the bigger picture, price actions from 0.7828 are seen as a correction. Larger down trend from 1.0342 (2017 high) is in still in progress. Break of 0.7828 will target 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8332 support turned resistance holds (2023 low).