technical

Gold was hit hard on Thursday as rising US yields pressured prices, with $4,600 now the key level to watch for either a rebound or deeper breakdown.

WTI crude oil remains headline-driven and rangebound below $100, with $102 needed for a breakout higher while $92 and $85 stand out as major support levels.

EUR/USD stays in a consolidation phase above 1.1550 after posting impressive gains on Thursday. Comments from policymakers could impact the pair’s action in the near term.

Gold is replicating the recovery moves seen in Thursday’s Asian trades, as buyers jump back in at lower levels early Friday after defending the critical $4,600 demand area.

EUR/USD seems to be giving some signs of life following last week’s yearly lows near 1.1400 the figure. In the meantime, while below its critical 200-day Simple Moving Average (SMA) around 1.1670, the pair risks deeper losses in the short-term horizon.

For the time being, the near-term prospect for the Australian Dollar (AUD) remains positive, supported by consistently high inflation in Australia and the RBA’s hawkish stance.