Analyzes

Gold is sitting at the highest level on record near $3,550 early Wednesday, bracing for the upcoming US labor data for fresh trading impetus.

The Euro (EUR) gave back part of its recent recovery on turnaround Tuesday, with EUR/USD slipping toward the 1.1600 neighbourhood, hitting its lowest level in four days.

Gold prices soared, with XAU/USD surpassing the $3,500 mark for the first time early on Tuesday, as investors seek safety ahead of United States (US) data releases.

The Australian Dollar (AUD) gave back some of its recent gains against the US Dollar (USD) on Tuesday, with AUD/USD falling back to retest the 0.6480 zone, its lowest in days, while leaning on its temporary 100-day SMA.

The EUR/USD pair edged sharply lower on Tuesday, with the pair coming under strong selling pressure during European trading hours amid resurgent US Dollar (USD) demand. Markets turned risk-averse amid turmoil in the United Kingdom (UK).

Following a post earnings sell-off, price action stabilized inside a horizontal support zone, prompting at least one new buy rating. The return on equity and profit margins are excellent, but should you buy the support zone?