OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold faces resistance on hourly chart

FXStreet (Mumbai) - Gold prices failed to sustain at days’ high of USD 1220.6/Oz as prices faced stiff resistance around USD 1220/Oz levels on hourly chart. Gold now trades at USD 1217.80/Oz.

The Yellow metal, which has been rising since early Asian trade today, appears exhausted around the resistance level. The S&P futures have turned marginally positive which may have capped gains in Gold. The ten-year treasury yields have also recovered marginally from the day’s low of 2.32, to trade at 2.348.

Gold technical levels

Gold faces a strong resistance zone around 1220 on the hourly charts while the support is located at 1215 and 1213.

GBP/USD wavers below 1.6100

GBP/USD wavers just below the 1.6100 level, following several failed attempts to consolidate above the psychological mark over the last sessions.
Read more Previous

EUR/USD eases to 1.2660

After posting fresh tops above 1.2680, EUR/USD is now deflating to the 1.2665/60 band, although the upbeat sentiment seems not to be hampered...
Read more Next
Start livechat