AUDUSD: The AUDUSD coming off near the monthly and yearly lows after failing to break the monthly highs last week. The Aussie has posted a decline for 2 consecutive days now, and is trading a few pips shy of the monthly low posted on July 12th at 0.8997. If the AUDUSD closes today below .9140 it would be the 3rd consecutive month that the Aussie closes negatively. Next target objectives for the pair are at 0.8953 and 0.8911 as long as we are below 0.9130. A move and sustaining above this level would negate our outlook and require a reevaluation of recent price action.
USDJPY: The USDJPY has been consolidating for the last recent days, with price action been minor this week. The weekly bias still remains to the downside as long as we are below 98.80 with target objectives at 97.00 figures initially followed by 96.60 and 96.15. A move above 98.80 will negate our outlook and would target next 99.36.
XAUUSD: Price action for the commodity has been minor this week after closing higher for 3 consecutive weeks. While traders wait for risk events ahead later today and tomorrow as well. Weekly bias remains bullish as long as we are above 1308 level. Target objective are at 1338 followed by the monthly high at 1347.18 posted last week. Alternatively a move below 1308 would target next 1301 followed by 1270.