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Gold stabilizes above $1130

FXStreet (Córdoba) - Gold is trading around $1133, down almost $5 from Friday’s closing price. It is the first decline since last Tuesday. From Wednesday to Friday rose 3% and today is retreating 0.50%.

XUA/USD rally eases

The price of the yellow metal bottomed during September at $1098 (Sep 11 low) and then turned to the upside, accelerating since Wednesday. On Friday peaked at $1141.60/oz hitting the strongest since September 1.

Today is pulling back but stills hold above the $1130 support area, that capped the decline earlier.

Gold short term levels to watch

To the upside immediate resistance lies at $1135, $1140 (daily high) and $1148. On the flip side, support might be located $1129.70 (daily low), $1123 and $1115.

EUR/USD hovers below 1.1200

EUR/USD entered a consolidation phase below the 1.1200 level after falling more than 100 pips throughout the day as the greenback takes back last week’s losses.
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