XAU/USD oscillates around $1,960 amid mixed responses to Fed’s June policy …

EURUSD

EUR/USD is posting small gains above 1.0700, finding support from a broad US Dollar weakness and hawkish ECB expectations ahead of the mid-tier EU data this Tuesday. Cautious market mood and disappointing German Factory Orders limit the upside in the major.

 If the pair continues the uptrend to the range of 1.0750, it is expected to continue the uptrend to the range of 1.0778.

On the other hand, If the pair continues the downtrend to the range of 1.0684, it is expected to continue the downtrend to the range of 1.0656.

USDJPY

USD/JPY holds a lower ground near the intraday bottom surrounding 139.35 heading into Tuesday’s European session. In doing so, the Japan Yen (JPY) pair defends the previous day’s bearish bias with a one-week-old ascending triangle formation.

if the pair continues the uptrend to the range of 140.27, it is expected to continue the uptrend to the range of 140.96.

On the other hand, If the pair continues the downtrend to 138.56, it is expected to continue the downtrend to 137.87.      

GBPUSD

GBP/USD is trading close to 1.2450, defending minor bids in early Europe. Amidst poor US economic data and increased Fed pause bets, the US Dollar takes the back seat, despite a cautious risk tone so far this Tuesday.

If the pair continues the uptrend to the range of 1.2472, it is expected to continue the uptrend to the range of 1.2510.

On the other hand, if the pair continues the downtrend to 1.2382, it is expected to continue the downtrend to 1.2330.

AUDUSD

AUD/USD gains near 50 basis points (bps) on the Reserve Bank of Australia’s (RBA) second surprise rate hike during early Tuesday. That said, the Aussie pair initially jumped to 0.6673 on the RBA’s verdict before retreating to 0.6668 by the press time.

If the pair continues the uptrend to the range of 0.6670, it is expected to continue the uptrend to the range of 0.6703.        

On the other hand, if the pair continues the downtrend to 0.6611, it is expected to continue the downtrend to 0.6585.

XAUUSD

Gold price is auctioning inside the woods around $1,960.00 in the early London session. The precious metal is displaying back-and-forth action as the investing community is divided about the interest rate decision by the Fed to be taken in June’s monetary policy meeting.

If the pair continues the uptrend to the range 1971.20, it is expected to continue the uptrend to the range of 1980.60.

On the other hand, if gold continues the downtrend to the range of 1945.28, it is expected to continue the downtrend to the range 1928.76.