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AUDJPY Bulls Eye 113: Dip-Buying Bonanza After 400-Pip Surge 
Major demand Zone - $1080-85.
- Gold has retreated till $1084 after making a high of $1093. It is currently trading at $1088.
- It is consolidating in narrow range market awaits US PPI data which is to be released tomorrow for further movement. The chances of rate hike will increase if inflation data comes more than expected. This will drag the Gold further down.
- Short term bounce back till $1120 is expected as long as support $1078 holds.
- On the lower side minor support are around $1078 and any break below targets $1070/$1060.
- Further weakness only below $1070.
- The minor resistance is at $1098 and any indicative break above would extend gains till $1110/$1124.
It is good to buy at dips around $1085 with SL around $1070 for the TP of $1110/$1124.
