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13.06.201406:55 Forex Analysis & Reviews: Technical analysis of gold for June 13, 2014

Long-term review

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Traders are waiting for the PPI and core PPI data. We expect both indexes to be upbeat. The USD index is trading at 80.57 levels. The price is taking support at 80.50, below this, 80.44 is the strong support levels. Once breaking below this, the index can drop to 80.25 and 80 levels. On the other hand, it has strong resistance at 80.61 levels. Crossing above that, the index can fly up to 80.67, 80.74, 80.85, 80.90 and 81 levels.

On an intraday basis, sell below 80.27 and buy above 80.61. is recommended

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