The AUDUSD pair, representing the exchange rate between the Australian dollar (AUD) and the US dollar (USD), has achieved its projected target. This indicates that the value of the Australian dollar has reached a desired level against the US dollar. Additionally, this was in expectations by traders and market analysts. Traders who had positions in AUDUSD and were aiming for specific price levels can now assess their profits.

The AUDUSD Performance 

(UPDATE) - AUDUSD reached the target.

AUDUSD successfully bounced from the 61.8 fib retracement tool according to the previous commentary. The market aggressively broke past the 0.67838 resistance zone and created a higher high. This price action suggested that buyers are interested in this market.

Instead of looking for a trading opportunity on the breakout, traders waited for the market to retrace either 50.0 or 61.8 retracement levels on the Fibonacci. This also provided possibilities for the retest of the trendline as well as the retest of the demand zone. As such, the market bounced from these zones and aggressively pushed up to the target.

The US30 Performance 

(UPDATE) - US30 is a few pips away from the target.

The bulls continue their reign in this market and are about to secure their profits. The market structure is still bullish and resistance zones have been broken which adds to the confluence. Traders used these tools to gauge whether the buyers are still in the market and to identify trading opportunities. At the moment the bullish setup is about to be complete as the market is just a few pips away from the target.

The XAUUSD (GOLD) Performance 

(UPDATE) - GOLD is testing the 1960.00 resistance zone again.

GOLD is currently trading above the pattern and is testing the resistance zone again. According to this recent price action, it seems that the resistance zone is likely to be in breach as there is currently not a lot of volume. As such, traders anticipate the bullish trend to continue. A break and close above the resistance zone will indicate pressure from the buyers.

Read More: Traders Are Still Bullish On EURUSD & NZDUSD

Final Thoughts On Today’s Analysis 

As traders pivot their strategies towards GOLD, they will analyse market trends, technical indicators, and fundamental factors that may impact the price of the precious metal. Moreover, this shift in focus represents the adaptability and agility of traders in response to changing market dynamics, allowing them to capitalize on emerging opportunities in different asset classes.