Due to the potential fake breakout of the resistance and the selling tail on the daily time-frame, I see opportunitiy for the downside movement.
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AUD/USD gathers strength above 0.6400 amid optimism in US-China trade talks
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USD/JPY touches over a one-month high at the start of a new week in reaction to a US-China trade deal. Meanwhile, trade optimism helps ease concerns about a recession in the US. Moreover, the Fed's hawkish pause provides a goodish lift to the USD and further supports the currency pair.
Gold tumbles below $3,300 on progress in US-China trade talks
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For Britain, the UK-US deal secures lower tariffs without compromising forthcoming UK-EU talks. And for the US, it signals to investors that the administration is prepared to be flexible on tariffs. But we're sceptical that the deal will translate into a much wider de-escalation in US tariff policy.
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