Gold Pullback Risk Builds as AUD/USD and USD/CAD Set Up
Gold has stalled near major resistance after a powerful rally, while AUD/USD looks stretched and USD/CAD attempts to extend its rebound.
Written by
Matt Simpson
Market Analyst
Gold has finally paused after an aggressive rally from the $4,000 area, with price now testing a significant resistance zone around $4,700. That area combines a major round number, a high-volume node from the prior decline and the May high, leaving gold vulnerable to a near-term pullback despite the broader trend remaining constructive.
Elsewhere, AUD/USD looks increasingly stretched after an eight-week rally fuelled by stronger Australian data, while USD/CAD is attempting to extend its rebound from support. The video also covers developing setups across GBP/USD and GBP/AUD, alongside the main technical levels to watch across gold and FX.
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