XAU/USD tests resistance level

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs58%59%-2.1%
Shorts42%41%2.9%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate

On Tuesday, the XAU/USD exchange rate tested the psychological level at 1,450.00. During today's morning, the rate was testing the resistance formed by the Fibo 23.60% and the 100-hour SMA at 1,462.89.

Given that yellow metal is supported by the 55-hour moving average at 1,458.09, it is likely that some upside potential could prevail in the market. In this case the rate could exceed the 200-hour SMA at 1,482.80.

If the given resistance level holds, it is likely that a reversal south could occur in the nearest future. In this case the rate could re-test the given psychological level.

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