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The British Pound may fall against the US Dollar if a gloomy tone from the Bank of England sets the stage for stimulus expansion and sours overall risk appetite.

The failed attempt to test the March high (0.6685) warns of a potential shift in AUD/USD behavior as the exchange rate snaps the upward trending channel from March.

Gold prices may be coiling up for a breakout higher while crude oil prices have broken resistance guiding them lower since the beginning of the year.

NZD/USD may face a more bearish fate ahead of the RBNZ meeting on May 13 as the former support zone around 0.6170 to 0.6230 appears to be acting as resistance.

The continued collapse of the US labor market increases the pressure on the US dollar, especially with investors' appetite for safe havens amid new tensions in relations between the United States and China, this time around the Coronavirus.

Gold prices lost $28 with prices dropping to $1681 an ounce before returning to stability around the $1692 level at the time of writing.

As expected in recent technical analyzes of GBP/USD, the pair's bearish momentum may push it towards the 1.2320 support, which in turn may increase the pair's bearish momentum and pave the way for stronger support levels.

For four consecutive trading sessions, the EUR/USD pair continued to correct downward, with losses that reached it to the 1.0781 level of, the lowest level in two weeks ago, before settling around the 1.0795 level in the beginning of Thursday's trading.

AUD/USD: Bulls and bears are evenly matched

USD/JPY: Resistance at 106.42 looks pivotal