XAUUSD Analysis: Surges to 61.80% Fibo

Dukascopy Bank Team Dukascopy Bank SA

XAUUSD

The gold price appreciated 0.59% since Thursday's trading session. On Friday, the yellow metal was surging upwards locating at the 1,2100.00 mark.

During Thursday's trading session, the simple moving averages pushed the yellow metal to surge as it was expected. The gold is moving closer to the 61.80% Fibonacci retracement level, which gold should reach in next couple of days.

Moreover, the simple moving averages are trying to catch up the rate to support the yellow metal to break through the Fibonacci retracement level in the near-term future.

Interested in XAUUSD technicals? Check out the key levels

1. R3 1217.42
2. R2 1212.91
3. R1 1210.01
PP 1205.5
1. S1 1202.6
2. S2 1198.09
3. S3 1195.19

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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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