Gold has broken the hourly resistance at 1300 indicating a persistent short-term buying interest. Hourly support and resistance are given at 1263 (21/12/2017 low) and 1329 (08/03/2018 high). The technical structure suggests shortterm downward moves.
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1’392 (17/03/2014) is required to confirm it. A major support can be found at 1’045 (05/02/2010 low). The pair is trading below its 200 DMA.
