Technical Outlook:
- AUD/USD rally has room to go
- EUR/USD big level it is at right now
- Gold congestion could set up next run
AUD/USD continues to rebound with the risk-trade as markets have been soothed by massive monetary intervention. The recovery is taking another leg higher, and looks headed for a full recovery of the March mayhem. Looking towards the breakdown level and 200-day confluence at 6680/6700.
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AUD/USD Daily Chart (reversal to breakdown point)
![AUD/USD daily chart](https://a.c-dn.net/b/2yotNR/AUDUSD-EURUSD-Gold-Charts-More-to-Watch-PRtech_body_audusddailypricechart.png)
EUR/USD is trying to lift off the long-term trend-line we have been discussing in recent weeks. It has tested it repeatedly without being able to hold a rally which suggests it still could break. But, it is support until it isn’t, and on that will respect it. The major breakdown point is 10635, while a potentially significant rallying point is if EUR/USD can rise above 10990.
EUR/USD Daily Chart (10635/10990 to watch)
![EUR/USD daily chart](https://a.c-dn.net/b/2v8eWP/AUDUSD-EURUSD-Gold-Charts-More-to-Watch-PRtech_body_eurusddailychart.png)
Gold price action suggests it wants to hold up and rally in the short-term, in-line with the longer-term trend. We could see a higher low develop here today or very shortly that would suggest is indeed firming up for another run beyond 1747.
Gold Daily Chart (continuing to firm up)
![Gold daily chart](https://a.c-dn.net/b/1CX1UB/AUDUSD-EURUSD-Gold-Charts-More-to-Watch-PRtech_body_golddailypricechart.png)
For all the charts we looked at, check out the video above…
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---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX