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Gold has shed its position for the second day in a row, losing more than 1% during early European session, and that might be just the beginning of a new downside wave, which will potentially take the price down to $1820. However, investors and traders will likely consider the potential to outweigh the risks early on. On the other hand, if the yellow metal decides to reverse the next resistance level is at $1852.
West Texas Intermediate (WTI) is oscillating in a narrow range of $114.42-115.27 in the early European session. The black gold witnessed a steep fall on Tuesday after failing to sustain above a two-month high at $118.62.
The AUD/USD pair attracted some buying during the early part of trading on Wednesday, albeit struggled to capitalize on the move and met with a fresh supply in the vicinity of the 0.7200 mark. The pair was last seen trading with modest intraday gains, around the 0.7180-0.7190 region, up over 0.20% for the day.
*The information presented above is intended for informative and educational purposes, should not be considered as investment advice, or an offer or solicitation for a transaction in any financial instrument and thus should not be treated as such. Past performance is not a reliable indicator of future results.