AUDUSD stuck in consolidation
The Australian dollar inches sideways amid the fallout from the oil war. The selling pressure eased as the greenback failed to prevent the pair from falling below 0.7100.
A test at the recent high at 0.7200 has prompted some sellers to cover their positions.
A close above 0.7200 would send the pair to a fresh high towards 0.7260.
The base of the latest momentum at 0.7120 is a fresh support.
XAUUSD tests support
Gold remains nervy after a recent downturn saw traders jump in and out of the safe haven metal.
On the chart, the price is attempting to break 4440, which could drive prices lower.
A drop below the first support at 4440 will dent the momentum, prompting a test at 4390.
4560 is the resistance higher and could cause a full reversal towards 4600 if bulls stage a fightback.
USOIL moving higher
WTI continues to jump as ongoing global tensions keep prices moving. A drop into the overbought territory for the RSI saw a slight pullback.
With the round number of 90.00 acting as a critical floor, buyers could bail out even further if prices continue to fall.
A move below 94.00 could potentially extend losses.
On the flip side, a close above 96.50 could wipe out any hesitations for buyers and send the commodity to the latest spike at 100.00.
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