Gold capped by 20-DMA, back below $ 1330

Gold extends its range-trade in to Europe, expectant of fresh incentives from the European session as a lack of economic data in the Asian hours kept the yellow metal comatose.

Gold back below $ 1330

Currently, gold trades modestly flat at $ 1327.66, having faced rejection near 20-DMA located at 1331.60. Gold forms a small doji candlestick on the daily chart this Tuesday, thus, indicating indecisiveness amongst the market participants as they await fresh impetus from the upcoming US economic releases.

With dust settling over weekend’s failed military coup in Turkey, markets turn their attention towards the fundamentals due out from the US economy this week ahead of Thursday’s ECB monetary policy decision.

Meanwhile, the US dollar trades little changed against its major competitors, keeping the USD index side-lined around 96.55 levels.

Gold Technical Levels                                   

The metal has an immediate resistance at 1331.60 (20-DMA) and 1335 (5-DMA). Meanwhile, the support stands at 1320 (round number) below which doors could open for 1305.