Intraday Analysis - Tuesday, Oct. 27

AUDUSD testing resistance

The AUDUSD remains indecisive as its choppy consolidation phase continues.

• The pair has found steady ground above 0.7000 after the week-long rally.

• 0.7040 is the immediate resistance, and a confirmed breach would push prices towards 0.7100.

• Otherwise, a fall below 0.6980 would trigger another round of selling towards 0.6900.

XAUUSD holding ground

Gold trades slightly higher as prices gear up for another charge upwards.

• Failure to hold above 4000 will put buyers on the defensive as the precious metal looks for the next signal.

• 3980 at the base of the latest drop is a firm threshold to see whether buying interest continues.

• Bulls will need to clear 4050 to regain control, with 4100 the target ahead.

• Further down, 3920 is a critical floor to keep bullion steady.

UK 100 bounces off support

The FTSE continues grinding higher after firmly moving away from the 10600 area.

• Prices remain bullish as bulls prepare to test the latest peak of 10890.

• A rise above this specified zone would indicate an interest in putting the index back on track.

• On the flip side, profit-taking could move prices lower, with 10640 as the first support to prevent a deep reversal.