FxAnalysis

Gold has extended its downward spiral early Thursday, testing bids at the $4,400 threshold, while hitting two-month lows.  

The Reserve Bank of New Zealand (RBNZ) left the Official Cash Rate (OCR) at 2.25% on Wednesday, but only because Governor Anna Breman’s casting vote broke a 3-3 split inside the Monetary Policy Committee.

The Aussie Dollar’s uptrend seems to have met some solid resistance in the 0.7270-0.7280 band so far, with AUD/USD still looking for a strong catalyst to attempt another move to the area of yearly peaks.

The US Dollar (USD) appreciates against the Japanese Yen (JPY) for the second consecutive day on Tuesday, hitting session highs above 159.00 at the time of writing, as fresh US attacks on Iran put the peace process into question.

Gold has reversed Monday’s recovery, returning to the red below $4,550 early Tuesday, as markets turn risk-averse and flock back to safety in the US Dollar (USD).  

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 current recovery and confront the yearly peaks.