Analyzes

Gold is reversing a part of the 15% correction from record highs of $5,598 early Tuesday, drawing support from uncertain-led by the US partial government shutdown and a broad US Dollar retreat.

EUR/USD comes under fresh selling pressure, breaking below the 1.1800 support and extending the leg lower following last week’s multi-year peaks in levels close to the 1.2100 barrier.

Spot Gold edged sharply lower on Monday, falling to $4,402 a troy ounce, its lowest in roughly a month.

AUD/USD attempts to regain some composure following the strong rejection from recent peaks near the 0.7100 barrier in a context of renewed demand for the US Dollar (USD) and expectations ahead of the RBA meeting on Tuesday.

The EUR/USD pair consolidates around last week’s close, confined to a tight intraday range on Monday. In fact, the US Dollar (USD) is pretty stable across the FX board, with little action beyond commodities.

Bitcoin has been breaking to new lows and underperforming other risky assets, but the bounce at the 1-year low price may signify the start of a bullish double bottom chart pattern.