Gold price strong recovery

OANDA:XAUUSD   Gold Spot / U.S. Dollar

Gold prices has recovered after the release of the US inflation data, consequently weakening the dollar. Brexit vote has further strengthened the yellow metal, causing it to rise by 1.07% and settling at $1,304.

China continue to boost up gold reserve as part of its anti dollar push
On technical perspectives, in Fibonacci retracement current price is moving in 0.5% directing to
0.61 $1,310.49 as new Resistance line and $1,303.37 as support line.
And 20EMA is moving below the current price indicating to hold the price on bullish condition.
However , STochRSI is moving on overbought territory .

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