Will Gold defend 100 DMA support ahead of US Services PMI?

EURUSD

EUR/USD is battling 1.0700, staying defensive at the start of the week on Monday. The US Dollar is holding post-US NFP gains amid cautious optimism, as investors assess the Fed interest rates outlook ahead of US ISM Services PMI. Eurozone PPI data eyed as well.

 If the pair continues the uptrend to the range of 1.0756, it is expected to continue the uptrend to the range of 1.0805.

On the other hand, If the pair continues the downtrend to the range of 1.0657, it is expected to continue the downtrend to the range of 1.0608.

USDJPY

The USD/JPY pair has shifted its auction comfortably above the crucial resistance of 140.00 in the Asian session. The major is expected to extend its gains firmly as Friday’s upbeat United States Nonfarm Payrolls (NFP) data have accelerated the odds of more interest rate hike announcements by the Federal Reserve (Fed).

if the pair continues the uptrend to the range of 141.01, it is expected to continue the uptrend to the range of 141.95.

On the other hand, If the pair continues the downtrend to 138.09, it is expected to continue the downtrend to 139.03.      

GBPUSD

GBP/USD is falling toward 1.2400 amid a modest US Dollar strength, dragging the major lower for the second successive day on Monday. Markets repricing of the Fed interest rates outlook push the US Treasury bond yields higher. Focus shifts to US ISM Services PMI.

If the pair continues the uptrend to the range of 1.2480, it is expected to continue the uptrend to the range of 1.2517.

On the other hand, if the pair continues the downtrend to 1.2311, it is expected to continue the downtrend to 1.2223.

AUDUSD

AUD/USD is recovering ground above 0.6600 after China’s Caixin Services PMI met estimates with 57.1 in May. The Aussie snaps the previous day’s retreat, despite a firmer US Dollar, mixed Aussie data and a cautious market mood. Focus shifts to US ISM Services PMI and RBA decision.

If the pair continues the uptrend to the range of 0.6602, it is expected to continue the uptrend to the range of 0.6643.        

On the other hand, if the pair continues the downtrend to 0.6566, it is expected to continue the downtrend to 0.6525.

XAUUSD

Gold price is consolidating Friday’s heavy losses while ranging below the $1,950 level early Monday. Stunning US NFP day saved the day for the USD and the US Treasury bond yields. All eyes now remain on the US ISM Services PMI for fresh trading incentives.

If the pair continues the uptrend to the range 1959.69, it is expected to continue the uptrend to the range of 1971.83.

On the other hand, if gold continues the downtrend to the range of 1923.75, it is expected to continue the downtrend to the range 1899.95.