28 Oct 2015
Gold/EUR back above 200-DMA
FXStreet (Mumbai) - Gold prices in the EUR terms are back above the 200-DMA, but the gains are being capped around EUR 1060/Oz levels.
Hovers above monthly 10-MA
The metal found fresh bids at its monthly 10-MA at 1058 earlier today, following which the prices hit a daily high of 1062.31 levels. The common currency remains under pressure ahead of the FOMC rate decision due later today.
Moreover, the metal has been on a rampage after the ECB’s Draghi signaled more monetary easing in December.
Gold/EUR Technical Levels
The immediate resistance is seen at 1062.31 (daily high), followed by a hurdle at 1068.56 (Oct 23 high). On the lower side, a break below 1058 (10-MA on monthly chart) would expose 200-DMA at 1055.53.
Hovers above monthly 10-MA
The metal found fresh bids at its monthly 10-MA at 1058 earlier today, following which the prices hit a daily high of 1062.31 levels. The common currency remains under pressure ahead of the FOMC rate decision due later today.
Moreover, the metal has been on a rampage after the ECB’s Draghi signaled more monetary easing in December.
Gold/EUR Technical Levels
The immediate resistance is seen at 1062.31 (daily high), followed by a hurdle at 1068.56 (Oct 23 high). On the lower side, a break below 1058 (10-MA on monthly chart) would expose 200-DMA at 1055.53.