Gold tests resistance at 1,275.00

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Source: Dukascopy Bank SA
On Wednesday, gold's price was testing the resistance of the 55-hour SMA, which had caught up to the commodity price. 

If the price passes above the 55-hour simple moving average, it should next test the 1,280.00 level, which should provide psychological resistance, and the 100-hour simple moving average.

On the other hand, the rate could be pushed down through the support of the 38.20% Fibonacci retracement level at 1,273.68. In that case scenario the rate would once more drop to the 1,270.00 level.  

Meanwhile, take into account that the Federal Reserve announcement at 18:00 GMT might crash all technical USD charts. Watch the event preview video on our YouTube channel.
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Wed, 22 May 2019 09:08:35 GMT

EUR/JPY makes new high

The Eurozone single currency appreciated about 106 base points against the Japanese Yen on Tuesday. The exchange rate made a new high at 123.73 during yesterday's trading session.

Wed, 22 May 2019 08:59:27 GMT

USD/JPY declines after sharp surge

As it was expected, the USD/JPY had become overbought due to the jump that occurred on Tuesday. This resulted in a decline, which by the middle of London's Wednesday session had reached 110.40.  

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