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Alerta - 13:45 (CET) - XauUsd
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The XauUsd (Ounce of Gold against the Dollar) is trading at 735.50, ranging between 726.21 and 739.13. The current price is over yesterday's close at 726.21. Checking the hourly graphics, we see that the 20- and 50-day EMA (Exponential Mobile Average) are under the 200-day EMA.
The supports are being watched at 681.85 (2008 low), 642.15 (August 2007 low) and 600.00 (key). The resistances are at 748.70 (October 24th high), 775.80 (October 22nd high) and 810.20 (October 20th high).
Last week, the golden cross ranged from 707.38 to 777.78 dollares, following the swings of the crude barrel price. The investors tend to seek the refuge of the metal when the price of crude rises, due to the inflation that this causes. Right now, the crude barrel price is declining from its intraday high at 69.19 dollars, explaining the behaviour of the metal.
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 51 points, rebounding from the overbought area. Also, the volatility per hour could reach 2100 pips.
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