XAU/USD Analysis: Fails to overcome 1,325.00

Dukascopy Bank Team Dukascopy Bank SA

Following two sessions of decline, the yellow metal has allayed its bearish sentiment. The first part of Monday's session was very calm, as the bounds of the 55-, 100– and 200-our SMAs limited more extensive movements. Additional volatility was introduced later in the day; however, the aforementioned SMAs still remained the main limiting factor for the pair.

Technical indicators are strongly bearish, thus pointing to a possible decline in this session. The nearest southern barrier is 1,305.00 where the senior channel and a breached trend-line are located. In terms of resistance, Gold is restricted by the monthly PP and the 23.60% Fibo at 1,330.00 and 1,335.60, respectively.

Traders should be attentive when the US inflation data come out at 1230GMT.

Interested in XAUUSD technicals? Check out the key levels

1. R3 1335.88
2. R2 1330.06
3. R1 1326.53
PP 1320.72
1. S1 1317.18
2. S2 1311.37
3. S3 1307.84

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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