XAU/USD is resisted by 100-hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
 Positions Today Yesterday Change
 Longs 33% 30% 9.1%
 Shorts 67% 70% -4.5%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Buy Buy
 RSI(14) Neutral Neutral Sell
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Sell Buy Buy
 SAR(0.02;0.2) Buy Buy Buy
 Aggregate

During Thursday's trading session, the yellow metal broke the resistance of the monthly pivot point at 1,308.46 to end the trading session at 1,309.46. On Friday morning, the gold was resisted by the 100-hour simple moving average at the 1,309.83 mark. 

In regards to the near-term future, it is expected that the 100-hour simple moving average will continue retracing the rate to push it to trade sideways at the 1,310.00 level.  

On the other hand, the support level of the monthly pivot point at the 1,308.46 mark could support the yellow metal to break the resistance of the 100-hour to trade at 1,312.00.

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