Intraday Analysis - Wednesday, July 22

XAUUSD (the Gold) remains choppy

XAUUSD (the Gold) saw a lift as the yellow metal moved away from the critical 4000 support.

• As the market remains volatile, with all eyes on Iran’s next move, prices look to break the 4100 level.

• Only a break above 4100, the top range of the current spike, might put the precious metal back on track towards 4140.

• Otherwise, a fall back towards the fresh support of 4000 would open the door to 3960.
  

USDCAD steadily climbing higher

The Canadian dollar attempts to turn around a potential fightback from the greenback.

• The pair remains under pressure, as an 80-pip move higher has hit resistance after a rejection at 1.4080.

• The buy side is attempting to continue the drive, which saw a bounce from the 1.4000 region.

• A break past the current resistance at 1.4080 could see a continuation, with 1.4150 the next target for buyers.

NZDUSD another higher high

The American dollar looks to fight back against most of its competitors as sentiment shifts again.

• The price has been moving higher after a continuous upshift in price action for the majority of this month.

• 0.5820 is the latest support, and its breach would trigger a reversal of liquidation and make 0.5760 the next target.

• 0.5900 is fresh resistance, as an overbought RSI leads to a bearish divergence.