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XAU/USD: Extends recovery towards 200-DMA, will it sustain?

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The XAU/USD pair (gold prices in terms of the US dollar) extended its corrective slide into a third consecutive day on Monday, breaking below the Fib 23.60% (Oct 2-15 rally) support of 1171.07 and printed daily lows at 1168.64. Gold prices remained under pressure yesterday after the recent series of poor Chinese data including the GDP figures, raised worries over the demand from the world’s top bullion consumer. Moreover, renewed sell-off in the yellow metal was triggered in the US session

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