Entry@ 1177.5 +/- 1 (100 ma) Stop@ 1173.5 (slightly below 1175 which was previous breakout zone) Target@ 1191 (previous high) Target@ 1201 (this is 100 dma which often prove strong resistance) Target@ 1207 (end of the CD)
US dollar rally this morning was due to RBNZ cut and there is a gap to be filled by the dollar. If the gap filled and dollar continue its sell off (possibly due to poor retail sales) then gold has a chance to rally.