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Gold Analysis: XAU/USD sold-off amid risk-on trades, targets hourly 200-SMA

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The XAU/USD pair (gold price in terms of USD) paused its three-day rally and settled in the red on Tuesday, retreating sharply from fresh four-week highs reached at 1262.77 in the European hours. Gold prices came under fresh selling pressure after the oil prices jumped higher and spurred a renewed risk-on wave across the financial markets, lifting the stocks on the Wall Street. Crude oil prices rebounded higher on the back of reports of output freeze consensus reached between Saudi and Russia.

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