FxAnalysis

Despite Monday’s NZD/USD rally, the 0.58 resistance zone may trigger selling pressure as technical and macro factors point to potential dollar recovery.

Gold continues its bullish surge amid DOJ fears and rate cut expectations, with technicals pointing to a breakout move toward the $5,000 level.

AUD/USD is gaining bullish momentum as a cup-and-handle pattern points to a potential breakout toward 0.6765 amid rising Fed uncertainty and strong Aussie data.

EUR/USD recovery was capped at the 1.1700 area on Monday, and the pair retreated to the mid-range of the 1.1600s, as bullish comments by the New York Federal Reserve’s (Fed) President John Williams eased market concerns about the central bank’s independence.Williams said on Monday that interest rate

Gold is treading water near the $4,600 threshold early Tuesday, as buyers catch a breather after Monday’s rally to fresh record highs of $4,630. All eyes now turn to the US Consumer Price Index (CPI) inflation data due later in the North American Session for fresh trading impetus.

EUR/USD seems to have found its footing for now in the low 1.1600s. A softer US Dollar (USD) has helped take the edge off last week’s sharp pullback, giving the pair some breathing room ahead of Tuesday’s all-important US inflation data.