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Alert - 11:25 (CET) - XauUsd
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The XauUsd (Ounce of Gold against the Dollar) is trading at 881.81, ranging between 891.94 and 914.17. The current price is under yesterday's close at 914.97. Checking the hourly graphics, we see that the 20- and 50-day EMA (Exponential Mobile Average) are over the 200-day EMA.
The resistances are set at 924.55 (September 29th high), 949.25 (July 23rd high), 988.53 (July 15th high). The supports are defined, and watched, at 864.35 (September 26th low), 824.65 (19th September low) and 736.50 (September 11th and anual low).
This session, the investors are going back to the golden refuge, taking it to the intraday high of 883.85 dollars. Today the US Congress will vote, again, the bailout plan for the financial sector and the crude barrel price is climbing, causing the investors to seek refuge in the precious metal
Meanwhile, the current price is under the 0.00% (1032.90) and over the 23.60% (864.90) Fibonacci retracement lines. The Relative Strenght Index (RSI) is at 47 points, rebounding from the oversold area. Also, the volatility per hour could reach 1600 pips.
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