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CAD/JPY Surges on Broad-Based Canadian Dollar Buying 
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align 
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align 
Gold lost its shine on strong US dollar. It hits an low of $3275 at the time of writing and is currently trading around $3273.
Rate Cut Expectations on the Rise
According to the CME Fed Watch tool, the chances of 25 bpbs rate cut in June 18th 2025 meeting have decreased to 60.70% from 61.10% a week ago.
Technical Analysis: Key Levels and Trading Strategy
Gold prices are holding below short term moving average 34 EMA and 55 EMA and above long-term moving averages (200 EMA) in the one hour chart. Immediate support is at $3270 and a break below this level will drag the yellow metal to $3232/$3168/$3100/$3000. The near-term resistance is at $3330 with potential price targets at $$3525/$3560.
It is good to sell on rallies around $3285-86 with a stop-loss at $3305 for a target price of $3230/$3200.
