Gold revisits post-NFP lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - Gold prices are back once again around the post NFP low of USD 1085/Oz levels even though the USD index fell into losses.

    Challenging lower end of the range

    At the moment, the metal is flirting with a lower end of the three day trading range of USD 1085-1095/Oz. The USD index fell closer to 969.00 levels; down 0.20%. However, the metal failed to cheer the weakness in the USD.
    Earlier today, prices had spiked to a high of USD 1092.70/Oz levels, before falling back to post-NFP lows.

    Gold Technical Levels

    At USD 1086/Oz, the immediate resistance is seen at 1090.00 (hourly 50-MA), above which the prices could test 1100. On the other side, support is seen at 1085.44 (Friday’s low), under which the losses could be extended to 1070 (July lows).
    For more information, read our latest forex news.

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