XAU/USD re-tests 55-hour SMA

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

Positions Today Yesterday % Change
Longs 44% 41% 6.82%
Shorts 56% 59% -5.36%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Even though the yellow metal managed to shoot up during the first half of Tuesday, the combined resistance of the 55-hour SMA, the weekly PP and the bottom boundary of the breached two-month channel up proved to be an unbreakable barrier which sent the pair down to 1,336.80.  

The rate has since returned back to the 55-hour SMA which is now likewise reinforced by the 200-hour SMA. It should edge slightly higher in this session towards the prevailing short-term channel down circa 1,345.00. The upside target in this case could be the weekly PP and the 100-hour SMA near 1,348.30. 

By and large, several noteworthy fundamentals which could shake the market are to be released today. In case of a negative surprise, Gold should be supported by the weekly S1 and the monthly R2 at 1,329.00.

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