Gold eyes breakout above $3375 – Société Générale

Gold is consolidating below key resistance at $3375, with technical indicators hinting at renewed bullish momentum. A breakout could open the path toward $3450 and April’s highs near $3500, while $3280 remains crucial support, Société Générale's FX analysts note.

Momentum builds as Gold consolidates

"Gold entered a consolidation phase after encountering strong resistance near $3500 in April. It has recently formed a base with an upper limit around $3375. The daily MACD is above the equilibrium line and its trigger, denoting a resurgence in upward momentum."

"A break above $3375 could signal the resumption of the uptrend, with the next objectives at $3450 and the previous peak near $3500/3520. The recent pivot low at $3280 serves as a key support level."

Jul 21, 2025

AUD/USD Price Forecast: Looking for direction above 0.6500

The AUD/USD is hesitating right above 0.6500, practically flat on the day. The risk on market and the softer US Dollar amid lower US Treasury yields keep the pair supported, but upside attempts seem limited.

JPY: Take a breath and buckle up – Commerzbank

In an initial reaction, the Japanese Yen (JPY) appreciated this morning, showing some relief after yesterday's elections. And certainly, the uncertainty about the political future could have been much greater this morning. As feared, the LDP lost its majority in yesterday's upper house elections.