Gold price (XAU/USD) attracts some sellers to around $4,235, the lowest since March 23, during the early Asian session on Wednesday. The precious metal extends its downside on renewed tensions in the Middle East and rising expectations of a US interest rate hike this year.
Six weeks ago Japan reportedly spent a record sum dragging this pair off exactly this shelf.
Societe Generale’s Kenneth Broux and colleagues note that EUR/CHF has formed a higher low near 0.9090 versus March’s 0.8980, signalling reduced downside momentum as the cross approaches its 200‑day moving average and a multi‑year descending trendline around 0.9240/0.9265.