something to keep an eye on

USD Index Chart. With Gold rallying due to USD weakness (gold in most other currencies is flat over the last 6 weeks - so the move comes from USD weakness not gold strength as such), this is a chart well worth watching



At this stage support (white lines) between .78 and .79 has held. I'm looking for a rise up to resistance (yellow lines) at around .83 over the course of 1-2 months, a bit like the rise from mid March to the end of April.

RSI moved below 30 and has now just poked back above it, MACD looks like its about the have a bullish cross and stochs are just moving out of oversold territory.

This is the chart that seems to be driving world markets at the moment, so keep an eye on.

Have to change my disclosure. Am now the proud owner of a decent portion of GOLD.asx :)