Gold Benefits From The SNB Maneuver, Continues to Defy Dollar Strength

Thanks to the efforts of the Swiss Bankers, Spot Gold has climbed above its flattening 200-day EMA at $1245 this morning, and is pushing up against a 10-month resistance line, now in the vicinity of $1270, which if hurdled and sustained, should trigger upside continuation to the $1330 area.

At this juncture, only a sudden downside reversal and plunge beneath $1225 will compromise the constructive technical set-up.