Gold faces resistance line

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since late hours of June 16 trading, the price for gold has been facing a descending resistance line. On Monday, the pair bounced off the resistance line and was looking for support in the hourly simple moving averages.

A potential decline of the commodity price could look for support in the last week's low level zone at 1,816.90/1,823.50. Further below note the support zone below 1,810.00.

However, a breaking of the resistance line is expected to encounter resistance in round price levels like the 1,845.00 and 1,850.00.
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