Fundamental

AUD/USD trades near key support as markets await Australia’s CPI data, with a bearish technical setup pointing to a potential slide toward 0.6350.

The GBP/USD pair attracts buyers for the fourth straight day and holds steady above the 1.3100 round figure through the first half of the European session on Tuesday. Traders opt to lighten their bearish bets around the British Pound (GBP) ahead of the UK Autumn budget on Wednesday.

EUR/USD fell to 1.1520 after the Supertrend indicator signaled a bearish breakout, driven by rising Fed rate cut expectations and weak macroeconomic sentiment, with 1.1385 now in focus as key support.

EUR/USD failed to make a decisive move in either direction at the beginning of the week and closed flat on Monday. The pair remains stuck in a tight channel above 1.1500 early Tuesday as market attention shifts to macroeconomic data releases from the US.

Gold is catching a breather in Tuesday’s Asian trading, after having rebounded over 1.5% on Monday. The next push higher in Gold now hinges on the upcoming delayed US data releases.  

EUR/USD remains under pressure, slipping back toward the lower end of its recent range and close to the key support at 1.1500 the figure in quite a slow start to the new trading week.