NZDUSD: The Kiwi dollar gapping higher at the open of the trading week, posting a new monthly high at 0.8225. The pair coming off moderately from the monthly highs and is currently trading at 0.8173. Long term bias for the kiwi still remains to downside; current levels could offer some selling opportunities for the pair. Levels of resistance are at 0.8190 initially, a break above exposes 0.8213 next, which is an important resistance, with a break above exposing 0.8271. Alternatively support levels are at 0.8137 initially, followed by 0.8091.
AUDUSD: The Aussie gapping higher at the start of the trading week as well, posting a new monthly high, but coming off from monthly highs during the day and closing lower, forming a bearish pin bar on the daily time frame, which could be indicative of a bearish run. The pair is currently trading at 0.9320, former resistance now tested as support. Current levels could offer some support to pair if the manages to stay above. Levels of resistance are at 0.9344 initially, followed by 0.9344 initially, followed by 0.9386 the monthly highs, a break a above exposes 0.9435 next. Alternatively support levels are at 0.9291 initially, a break below exposes 0.9230 next.
XAUSUSD: Gold finding a temporary base around 1305 levels, the Friday lows, after posting a Hugh decline for the past 3 weeks from the top set on Aug 28th at 1433.61 to yesterday’s lows at 1302.82. a break above 1334.84 would ease downside pressure and may be indicative of a corrective move underway. Levels of resistance are at 1334.84 initially, followed by 1341.26 and 1346.86, with a break above exposes 1357.62. Support levels are at 1305.05 initially, a break below exposes 1295.63, followed by 1272.81.