FX: Gold rally extends to $1,128 as Dollar continues weakening
FXstreet.com (Barcelona) - Gold bounced on Monday at $1,093 low, reaching $1,123 high during U.S. session, to extend higher, supported by generalized Dollar weakness on Asian trading hours, and hit $1,128, fresh 2-weeks high at the moment of writing.
On the upside, XAU/USD could find resistance at $1,135/40 (Dec 11 and 17 high), and above here here $1,147 (Dec 11 high). On the downside, Gold could find support at $1,124 (Jan 4 high) and $1,117/19 (Dec 9/21 low).
The Dollar has remained weakening against its major rivals during Asian session; EUR/USD rebound from 1.4255 low on Monday has extended to 1.4485 session high, while the USD/JPY decline from 93.209 high yesterday extended below 92.00 to 91.65 low, and GBP/USD bounced from 1.6065 to 1.6150 high, although the Pound is giving back previous gains on early European session.
