FxAnalysis

Gold price (XAU/USD) extends its winning streak for the third trading day on Wednesday, trading 1.5% higher to near $4,140 during the Asian session.

The Aussie Dollar’s recovery appears to have met some resistance just above the 0.7000 threshold against the US Dollar so far. Indeed, AUD/USD still struggles to surpass that mark in a convincing fashion, while the constructive outlook appears unchanged above its critical 200-day SMA near 0.6890.

The US Dollar (USD) trades with a firmer tone on Tuesday, but so does Gold. The bright metal is moving away from the $4,000 mark and trades closer to an intraday high of $4,084 than to the psychological threshold.

Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third straight day on Tuesday.

The Aussie Dollar’s recovery appears to have met some resistance just above the 0.7000 threshold against the US Dollar so far. Indeed, AUD/USD still struggles to surpass that mark in a convincing fashion, while the constructive outlook appears unchanged above its critical 200-day SMA near 0.6890.

War drums sound loud at the start of the new week, as Iran and the United States (US) exchanged fire for the ninth consecutive day on Sunday, leading to a firmer US Dollar (USD) and a bullish gap in Oil prices.