August 31, 2026
DXY – Strong Recovery After Fed Speech
DXY trades around 99.80, recovering strongly after Fed Chair Kevin Warsh's hawkish speech at Jackson Hole. He emphasized inflation hasn't cooled significantly and the Fed still has "work to do," boosting rate hike expectations for September. The index is testing resistance at 99.70-99.80.Key Levels:
- Support: 99.36 – 99.00
- Resistance: 99.80 – 100.00
Gold – Plunges to $4,445
Gold plunged to $4,445/oz, down 3.18% for the week, following the Fed's hawkish remarks. Treasury yields and the USD surged. Selling pressure intensified as gold broke below key levels at 4,600, 4,550 and 4,500. RSI is back in neutral territory.Key Levels:
- Support: 4,400 – 4,350
- Resistance: 4,500 – 4,550
WTI Crude – Corrects to $82
WTI trades around $82.50/barrel, correcting from its peak of $86.15. The pullback is driven by improved supply expectations from the Middle East. RSI has returned to neutral territory. Price is testing 20-day EMA support.Key Levels:
- Support: 81.30 – 80.50
- Resistance: 83.69 – 86.10
USD/JPY – Approaching 160
USD/JPY trades around 160.10, approaching the psychological 160 level. The US-Japan yield differential continues to pressure the Yen. BoJ intervention risks remain present.Key Levels:
- Support: 159.00 – 158.50
- Resistance: 160.00 – 161.00
AUD/USD – Heading for 9th Weekly Gain
AUD/USD trades around 0.7200, heading for a 9th consecutive weekly gain – the longest streak since 2010. Inflation and household spending exceeded expectations, boosting RBA rate hike expectations. RSI at 64, approaching overbought territory.Key Levels:
- Support: 0.7148 – 0.7100
- Resistance: 0.7264 – 0.7300
EUR/USD – Falls After Fed Speech
EUR/USD fell to 1.1590 after the Fed's hawkish speech. Fed Chair Warsh emphasized inflation remains uncontrolled and the Fed is ready to act more aggressively. The Euro lost momentum after peaking at 1.1710.Key Levels:
- Support: 1.1560 – 1.1500
- Resistance: 1.1635 – 1.1710
GBP/USD – Falls to 1.3525
GBP/USD fell to 1.3525, its lowest level since August 19. A hawkish Fed supports the USD. BoE rate hike expectations have been pushed back to 2027. RSI is in neutral territory, suggesting this is a technical pullback.Key Levels:
- Support: 1.3500 – 1.3483
- Resistance: 1.3542 – 1.3655
ASX200 – Recovers to 9,092
ASX200 rose 0.6% to 9,092 points, recovering from recent declines. Materials and technology sectors led the gains. Markets await Q2 GDP data and China PMI. RSI at 51 – neutral territory.Key Levels:
- Support: 9,038 – 9,000
- Resistance: 9,186 – 9,296
Dow Jones – Recovers After Decline
Dow Jones recovered slightly, ending the week around 53,560. US stock markets fell slightly after the Fed's remarks. Tech and pharmaceutical sectors declined, while financials and industrials gained.Key Levels:
- Support: 53,200 – 53,350
- Resistance: 53,750 – 53,820
Key Events This Week
- Tuesday (01/09): AU GDP (Q2) – Australian economic growth
- Wednesday (02/09): AU PMI (August) – manufacturing activity
- Thursday (03/09): US ISM Manufacturing PMI – US manufacturing activity
- Friday (04/09): US Non-Farm Payrolls – highlight of the week
- USD: Strong recovery, testing 100
- Gold: Plunged to 4,445, pressure from strong USD
- Oil: Correcting to 82, range-bound
- USD/JPY: Approaching 160, intervention risk
- AUD/USD: 9th weekly gain, RBA hawkish
- EUR/USD: Falling to 1.1590, strong USD
- GBP/USD: Falling to 1.3525, BoJ hawkish
- ASX200: Recovering, awaiting GDP
- Dow Jones: Range-bound, awaiting jobs data
