Dukascopy Bank Team
Dukascopy Bank SA
XAUUSD
During Wednesday's trading session, the yellow metal broke the resistances of the 55-hour and the 100-hour SMAs to end the trading session at the 1,209.52 mark. On Thursday morning, the gold was trading at the 1,211.18 mark between the monthly pivot point and the 50.00% Fibonacci retracement level.
In regards to the near-term future, the gold will trade sideways to stay at the 1,210.00 level. Besides, the 200-hour simple moving average should resist the yellow metal during the trading session on Thursday.
However, the yellow metal could depreciate against the US Dollar during today's US Retail Sales data release at 13:30 GMT to push the gold the trade at 1,220.00 level.
Interested in XAUUSD technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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