Gold fails to hold above $1,140

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FXstreet.com (Córdoba) - Gold tested levels above $1,140 during the Asian session but failed to hold. The yellow metal pulled back and found support at $1,128. Currently trades at $1,132.82 an ounce, 0.25% below the price it had at the beginning of the day.

To the upside, resistance levels lie at $1,141 (intra-day high) and above at $1,146.30 (Jan 14 high). Immediate support below $1,128.90 lies at $1,125.

No change in Gold's outlook as sideway consolidations continue. With 1119.2 support intact, another rise could still be seen and above 1163 will bring stronger rebound into 1169.3/1227.5 resistance zone, the Oil N'Gold team says. On the downside, below 1119.2 will suggest that recovery from 1075.2 has completed already and will flip intraday bias back to the downside for 1075.2 and below.

The Australian Dollar fell earlier to 0.9175 against the Dollar and tested yesterday's low but managed to hold. AUD/USD then recovered and rose back above 0.9200 to 0.9245. Currently trades at 0.9230/35, 0.28% below today's opening price.

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