Gold finds resistance at $1,145/46 previous support

By IBTimes Staff Reporter | January 15 2010 3:04 AM

FXstreet.com (Barcelona) - Gold prices have bounced up from $1,118 low on Wednesday but following bullish attempts have been capped at $1,145/46 area on Thursday, as the yellow metal's prices have entered into a consolidation pattern from $1,130.50 to $1,145/46.

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Gold is sideways in hourly and daily charts, according to Rajoo C, technical analyst at Precise Trader, who expect choppy sideways trading until a breakout happens: The Hourly Trend has also been in a Range Trading so expect a Choppy session until the breakout ,11305-11240 are the critical levels to watch to maintain the bullish outlook.

AUD/USD remains trading in a rage from 91.75 to 93.30 on the upside, which has capped Aussie's bullish moves on Monday and Thursday, taking a break after a 3-week long rally from 0.8730 low on December 23.

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