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Alert - 10:40 (CET) - XauUsd
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The XauUsd (Ounce of Gold against the Dollar) is trading at 833.95, ranging between 831.91 and 850.32. The current price is under yesterday's close at 847.27. Checking the hourly graphics, we see that the 20- and 50-day EMA (Exponential Mobile Average) are under the 200-day EMA
The resistances are set at 924.55 (September 29th high), 949.25 (July 23rd high), 988.53 (July 15th high). As the support at 864.35 (September 26th low) was broken, the traders are watching the next levels at 824.65 (19th September low) and 736.50 (September 11th and anual low).
In the last few hours, the golden cross has experienced some profit taking, as the crude barrel is forced to challenge the 70 dollars support. In general, the investors tend to seek the metal to protect themselves from the inflation caused by the oil prices.
Meanwhile, the current price is under the23.60% (866.50) and over the 38.20% (762.19) Fibonacci retracement lines. The Relative Strenght Index (RSI) is at 41 points, rebounding from the oversold area. Also, the volatility per hour could reach 1500 pips.
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