Pivot: 1.305

Our preference: Short positions below 1.305 with targets @ 1.2995 & 1.297 in extension.

Alternative scenario: Above 1.305 look for further upside with 1.3085 & 1.313 as targets.

Comment: the pair remains on the downside and is challenging its support.

Pivot: 1.541

Our preference: Long positions above 1.541 with targets @ 1.547 & 1.55 in extension.

Alternative scenario: Below 1.541 look for further downside with 1.537 & 1.533 as targets.

Comment: the pair has rebounded on its support and remains on the upside.

Pivot: 0.9455

Our preference: Short positions below 0.9455 with targets @ 0.941 & 0.938 in extension.

Alternative scenario: Above 0.9455 look for further upside with 0.9495 & 0.9525 as targets.

Comment: the pair is posting a rebound but stands below its new resistance, the RSI lacks upward momentum.

Pivot: 1.022

Our preference: Short positions below 1.022 with targets @ 1.0175 & 1.015 in extension.

Alternative scenario: Above 1.022 look for further upside with 1.025 & 1.028 as targets.

Comment: the pair is posting a rebound but stands below its resistance.

Pivot: 91.10

Our preference: LONG positions above 91.1 with 93.85 & 95.1 as next targets.

Alternative scenario: The downside breakout of 91.1 will open the way to 90.3 & 89.3.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Pivot: 1448.00

Our preference: LONG positions above 1448 with 1485 & 1507 in sight.

Alternative scenario: The downside breakout of 1448 will open the way to 1418 & 1404.

Comment: Gold prices are supported by a rising trend line and the 50 moving average is heading up. The upside prevails, as long as 1448 is support.

Pivot: 14590

Our preference: LONG positions above 14590 with 14720 & 14770 as next targets.

Alternative scenario: The downside penetration of 14590 will call for 14520 & 14400.

Comment: a support base at 14590 has formed and has allowed for a temporary stabilisation.

Pivot: 1568

Our preference: LONG positions above 1568 with targets @ 1588 & 1593.

Alternative scenario: The downside penetration of 1568 will call for a slide towards 1561 & 1556.

Comment: the RSI is supported by a bullish trend line.