Back
21 Apr 2015
Gold might remain under pressure – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, anticipates that XAU/USD might test its 50-DMA at 1195.27 and even 1190.70 on a break below the former.
Key Quotes
“The pair is expected to retest of 50-DMA at 1195.27 and below that a likely test of previous low at 1190.70 is seen. XAU bears may take over thereon knocking the pair to 1182.84 (April 14 Low) levels.”
“The upside seems limited as the pair faces strong resistance at 1200 beyond a break of 1197.46 levels. More so, the US dollar is expected to remain strongly bid across the board, rebounding from a crucial support last week, which may keep the pair pressured.”
Key Quotes
“The pair is expected to retest of 50-DMA at 1195.27 and below that a likely test of previous low at 1190.70 is seen. XAU bears may take over thereon knocking the pair to 1182.84 (April 14 Low) levels.”
“The upside seems limited as the pair faces strong resistance at 1200 beyond a break of 1197.46 levels. More so, the US dollar is expected to remain strongly bid across the board, rebounding from a crucial support last week, which may keep the pair pressured.”