Gold is acting strong against USD due to USD-China tensions.
The support rests at 1280.82 with resistance at 1291.02 which the weekly pivot point at 1285.87 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is falling towards oversold area, the Stochastic is showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
The support level breakthrough will push the price down towards 1277.
