Notice for today

1. #AUD/USD# holds lower grounds at the yearly bottom surrounding 0.6450 as it seeks fresh clues to extend the six-day downtrend. The Aussie pair justifies its risk-barometer catalysts, as well as bears the burden of the downbeat catalysts from home and the biggest customer China, to keep the bears hopeful. 
2. #EUR/USD# holds lower grounds near 1.0900, poking the intraday bottom amid early Wednesday in Asia. The Euro pair struggles for clear directions amid the cautious mood ahead of the Federal Open Market Committee’s (FOMC) Monetary Policy Meeting Minutes.
3. #gold# remains pressured at $1,901 as it reverses late Tuesday’s corrective bounce off the lowest level in seven weeks. China-induced risk aversion joined upbeat United States data and hawkish Federal Reserve (Fed) talks, as well as fears of witnessing credit rating downgrade of major US companies, weighed on sentiment and the #XAU/USD# the previous day. 

#XAU/USD# trades in the red for a second consecutive day, and the daily chart shows that it barely holds above a bullish 200 Simple Moving Average (SMA), challenging the indicator for the first time this year. The 20 SMA, in the meantime, accelerates south far above the current level while below the 100 SMA, skewing the risk to the downside. Finally, technical indicators extended their slides and approach oversold readings, further supporting another leg south.

Bears are in control near term, as the 4-hour chart shows that XAU/USD peaked for the day at around a firmly bearish 20 SMA, quickly retreating from the moving average. At the same time, the 100 SMA is crossing below the 200 SMA, both around $1,941, while technical indicators gain downward traction within negative levels.

Support levels: 1,896.30 1,888.30 1,879.95

Resistance levels: 1,915.30 1,9221 1,934.85