Gold went close to the overbought level on the RSI(14) indicator. Area 1,200 is a relevant resistance and a breakout would trigger moderate positive market sentiment and the shiny metal could rise to 1,266 to test its 200SMA. The medium term supply line is the change of polarity level that could bring buyers in control. Below 1,123 the shiny metal should test 1,100 and then 1,045, the multiple bottom reached on November 2015.
The rate is making lower highs in the short term and it could test the 23.6% Fibonacci retracement of the bullish trend that was generated last July. A breakout of 123.6 can lift EurJpy to test 125 and then 128.5. The 200SMA is at 116.8 at the moment and is the most relevant support in case of a correction.
The rate bottomed at 1.0353 but in case this support would be broken the pair would slide to the parity. A breakout of the medium term supply line did not allow EurUsd to rise above 1.0643. If the rate will trade above this static resistance it may test 1.0840 and then 1.09
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