Gold down on the USD rise today but runs into 200 hour MA

Technical Analysis

Author: Greg Michalowski | gold

Will gold traders lean against the 200 hour MA

Gold is following the dollars rise higher today, but may find some cause for pause against the 200 hour MA. That MA comes in at $1293.45. The low just extended to $1293.16, just below that MA level, but we are seeing a bounce. The price is currently at $1294.75.

Will gold traders lean against the 200 hour MA
Keep an eye on that level. Right now, the sellers on the day seem to be taking some profit (and maybe some new buyers). However, those buyers, could easily switch to sellers on a break below.  

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