Gold has broken its consolidation phase to the downside in Asian trade on Friday, challenging one-week lows near $4,600 on its way to book a weekly loss.

The Aussie Dollar’s uptrend seems to have met some decent resistance in the 0.7270-0.7280 band so far, with AUD/USD still looking for a strong catalyst to extend its rally and dispute the yearly peaks and higher levels.

Spot Gold is under moderate selling pressure for a third consecutive day, trading around $4,680. The US Dollar (USD), however, trades with a firm tone against most major rivals, pressuring fresh weekly highs across the FX board.

USD/CHF remains supported by rising US yields and a wide interest rate differential, making dollar dips attractive despite the franc’s safe-haven status.

NZD/USD is consolidating near 0.5950, with 0.59 as a potential buy zone and 0.60 as the key upside resistance ahead of US jobs data.

This is one of the most bullish currency pairs, exhibiting a long-term bullish trend, and a shorter-term technical pattern which is suggestive of higher prices.