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Alerta - 16:00 (CET) - XauUsd
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The XauUsd (Ounce of Gold against the Dollar) is trading at 746.12, ranging between 745.09 and 776.80. The current price is under yesterday's close at 771.85. 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) and 824.65 (19th September low), were broken, the traders are watching the next level at 736.50 (September 11th and anual low).
The interbank lending rate Libor keeps declining, bringing some ease to the credit markets. As the crude price is also falling, the investors feel no need to seek refuge in the metal, given the inflation that the high crude price causes.
Meanwhile, the current price is under the 38.20% (762.19) and over the 50.00% (677.99) Fibonacci retracement lines. The Relative Strenght Index (RSI) is at 29 points, oversold. Also, the volatility per hour could reach 3200 pips.
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