Interesting pullback on gold

Gold has been falling lately due to the rally on the US Dollar, but during this Tuesday’s session the price of gold has pulled back to the 55 day EMA (purple line), around the 1330 level. Even though the price of gold is trying to go back down, the bearish trend is still in place and the price may try to go back down with its main trend. In case of going back down, the price of gold may try to visit the 200 day EMA (blue line), which is currently just above the 1300 level. To the upside, in case gold continues heading higher, its next resistance could be the 1350 level, but a better resistance is located at the 1365 level from where the price has already bounced to the downside in a couple of times. The price of gold may try to go back down, but the fundamentals also play a big role and risk aversion or risk appetite may also influence the future direction of the precious metal.