FxAnalysis

The Australian Dollar (AUD) kicked off the new trading week on a strong note, with AUD/USD pushing past the 0.6600 level and touching two-day highs.

The EUR/USD pair fell on Monday to 1.1651, its lowest in over a week, as the US Dollar (USD) surged on Asian and European political woes.

The USD/JPY pair opened with a bullish gap at the start of a new week and surged past the 150.00 psychological mark, rising to its highest level since early August in reaction to an unexpected result in Japan’s leadership contest.

EUR/USD stays under heavy bearish pressure in the European session on Monday and trades below 1.1700. In the absence of high-impact data releases, investors are likely to remain focused on political developments in the United States (US) and France.

The Pound Sterling (GBP) recovery from seven-week lows against the US Dollar (USD) lost legs, sending GBP/USD back below the 1.3500 threshold.

The price of gold at $4000 per ounce is the next target for gold bulls amid the continued strong positive momentum in the market. According to platforms of gold trading companies, momentary gold prices rose to the resistance level of $3897 per ounce, the highest in the history of the yellow metal market. The absence…