During the previous trading session, the yellow metal appreciated against the US Dollar to break the resistances of the simple moving averages. On Friday morning, the rate was supported by the 200-hour and the 100-hour SMAs to trade at the 1,316.06 mark.
In regards to the near-term future, it is expected that the 100-hour and the 200-hour simple moving averages will continue to support the rate to the 1,320.00 level.
Keep in mind, none of the technical indicators could prevent the rate from the surge!
Written by Admin
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