Tests 100 hour MA
The dollar is finding a bid vs the EUR, GBP, JPY (and others) and that has put the pressure back on gold. The price of the precious metal is trading down -$10.50 and test $1200. It is also testing the 100 hour MA at $1199.90.
The low has reached $1199.73, just below the level but we are seeing a modest rebound as traders lean against the low risk defining level.
However, the dip buyers will likely sell out on a break with momentum so be aware.
For now however, the buyers are sticking a toe in the water against the support level.
