Gold is trading lower in US session and lost more than $10 after the release of US Non-Farm Payroll. US economy has added 136000 jobs in Sep slightly below forecast of 145000 and the unemployment rate came at 3.5% vs estimate of 3.7%. The average hourly earnings at 0.0% much below expectations. The yellow metal hits low of $1495.80 and is currently trading around $1498.78.
US 10-year bond yield rose more than 2% after the data. Any break above 1.56% confirms minor bullishness.
Major intraday support to be watched -$1495 and any break below targets $1480 (55- day EMA MA)/$1469.Minor weakness only below $1469.
Resistance -The yellow metal is facing strong intraday resistance around $1515 and any break above targets $1528/$1540.
Additional Levels
$1445 (38.2% fib)
$1414
$1390 (38.2% fib)
