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XAU/USD could target 1,350.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs36%35%4.1%
Shorts64%65%-2.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellSellNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇒⇒

[ANNOUNCE] On Wednesday, the XAU/USD exchange rate tried to surpass the resistance level formed by the monthly R2 at 1,333.67. During today's morning, the rate was testing the given resistance. [/ANNOUNCE] 

Note, that gold is supported by the 55-hour moving average, currently located at 1,329.01. Thus, the price for gold could surpass the given resistance and go upwards. A potential target is the 1,345.00/1,350.00 range.  

On the other hand, the exchange rate could trade sideways around the given resistance level. From a technical perspective, it is unlikely, that the price for gold could drop lower than 1,319.79 due to the support level formed by the 100-hour SMA and the monthly R1.

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