On Friday we said: “Gold is in a consolidation phase, the price has no clear direction but holds pretty well given the current USD strength. Is this resiliency to the USD a bullish sign? We have a minor support at 1193$, if broken the price could head easily to 1183$ major key support of the 1180$ - 1222$ mid-term range. To the upside, 1200$ would be the trend shifting level from bearish to bullish. Our stance for the day is neutral.
Forex Technical Analysis
25 May 2016
USD marking fresh highs on the back of strong data...
24 May 2016
Gold lower on higher Fed rate hike prospects...
23 May 2016
Dollar shows signs of consolidation, Yen back in support...
20 May 2016
Prospect of hikes supports USD, equities sell off...
19 May 2016
Fed rekindle expectations for June rate hike; dollar soars...
18 May 2016
USD steadies ahead of FOMC minutes...