FXstreet.com (Barcelona) - Gold prices decline from $1,146 area (Jan 14 and 15 high), found support at $1,125 on Monday, and XAU/USD continued higher, reaching $ 1,140 high on Tuesday's Asian session.On a wider perspective, Spot Gold's uptrend from December 30 low at $1,086 10 remains active.
According to Rajoo C, technical analyst at Precise Trader, Gold looks bullish on hourly and Daily studies: Hourly Trend is Sideways Up while 11265 holds and Daily Trend is Sideways while 10965 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend has been in Sideways for the last few days and a Range Trading is expected until the breakout. The Hourly Trend has just broke out of the Range and expect the bulls to struggle near the 11435-11466 levels.
AUD/USD rally from 0.9175 low on Monday found resistance at 0.9280, and the pair eased during Asian session to 0.9225, before picking up to 0.9260 area at the time of writing. The pair is sideways on daily and hourly charts , moving in range between 0.9170 and 0.9230, consolidating after rallying from 0.8735 low on Dec 23.