Gold next to a support zone

Gold has been beaten lately by the strong rally on the US Dollar, which has reached its highest high for the year. The price of gold drops when the Dollar rallies due to the fact that the precious metal is quoted in Dollars in the international markets and when the greenback rallies the demand for gold outside the US drops. On the daily chart of gold we can see that the price accelerated its bearish momentum below the 1328 level where we can see its 55 day EMA. At the moment, the price of gold has reached its 200 day EMA (blue line), around the 1350 level. The 200 day EMA along with the 1300 level could act as a good support zone for gold, therefore we could see a bullish bounce where the 1328 level could act as resistance. On the other hand, if the price of gold breaks below the 1300 level, it would have the road clear to drop to the 1236 level, but with some pullbacks on the way down.