While USD is being empowered by the economic data, Gold is moving slowly against it.
The support rests at 1418.75 with resistance at 1432.65 which the weekly pivot point at 1427.37 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is moving in low ranges 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 above the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
The support line seems to be too strong to be broken. Long positions are recommended towards 1449.
