Intraday Analysis – Gold Holds Ground

From orbex.com

Gold remains intact after briefly falling below the psychological 2300 level. On the chart, the price seeks to consolidate after a $30 whipsaw swing, which saw a recent high at 2325. Zooming into the hourly chart, a drop below the first support 2280 will dent the impetus, causing some short-term buyers to take profit. 2160 at the base of the recent rally is a critical floor. A close back above 2360 would keep the bulls interested in another record high.The Australian dollar increased as the fallout from Friday’s NFP numbers continued. The selling pressure eased as the greenback failed to stop the pair from breaking ... (full story)