XAU/USD reached 1,478.00

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs56%56%0.6%
Shorts44%44%-0.7%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuySellBuy
SAR(0.02;0.2)BuySellSell
Aggregate

On Tuesday, the XAU/USD exchange rate tested the monthly S1 at 1,475.18. During today's morning, the rate reached the 1,478.00 level.

On the one hand, gold could extend gains against the US Dollar within the following trading session. In this case, the exchange rate could target the upper boundary of the medium-term ascending channel located circa 1,484.00.

On the other hand, yellow metal could depreciate against the US Dollar in the nearest future. In this case, it is unlikely that the price for gold could drop lower than the support cluster formed by the 55-, 100– and 200-hour SMAs in the 1,465.15/1,470.33 area.

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