AUD & Gold breakout

AUD/USD chart D1.

AUD broke out from a descending channel. 

Looks like it's forming an ascending channel.

Set to test 1.048 and 1.052

AUD/USD chart H4.

Aud touched 1.044

But hold your horses, Aud may dive if RBA meets on Tuesday 1st May (Malaysian time 12.30pm) to cut its cash/interest rate.

Gold similarly broke out from a descending channel on Friday slower-than-expected US growth data and as traders expected another round of QE.
Gold will likely test 1670 and 1680 levels ..