Market Analysis
XAUUSD midweek: gold breaks above 4160, where we are 2026-08-03
Gold is up roughly 89 dollars from Monday's open, having cleared 4172.77 intraday as Hormuz deal hopes ease inflation fears.
2 min readAUDUSD trades at 0.70478 as of Wednesday's close, a shade above Monday's 0.7045 open for a gain of roughly 3 pips on the week so far. The path was not straight. Price dipped to a weekly low of 0.69834 on Monday before Tuesday's rally carried it back through 0.70. The high for the week sits at 0.70555, printed Wednesday.
The standout headline this week was the PBOC USD/CNY mid-point fix, which came in weaker than the Reuters estimate. A softer yuan often pressures the China-linked Aussie, yet AUDUSD held its gains into Wednesday, suggesting the broad dollar tone mattered more than the fix on the day.
The calendar carries no scheduled high-impact releases for the back half of this week in the bundle, so the PBOC fix remains the reference point for now. Watch each morning's fix against the Reuters estimate. If the gap stays wide on the weak-yuan side and AUDUSD loses 0.70393, Wednesday's low, the 0.70 handle comes back into view. If the fix tightens toward estimate and price holds above 0.7040, buyers keep control of the midweek range.
As of Wednesday, 46.4 percent of positioning is long and 53.6 percent is short. That is a modest lean toward the short side. It tells you consensus is not fully convinced by the bounce off Monday's low, even with price back near the weekly high. A crowded short book can also fuel a squeeze if the level holds.
The line in focus is 0.70555, the week's high. Hold above 0.7040 and a push through 0.70555 opens room toward the 0.7060 area. Lose 0.70393 and the 0.70 handle, which capped Monday, is the next test. The same dollar impulse showing up in EUR/USD is worth a glance for confirmation. You can track these levels live on our platform when you open an LHFX account.
Byline: LHFX Research
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