Corona virus news:
The World Health Organization has said it is "deeply concerned" over the development of Covid-19 in Europe. Regional director Dr Hans Henri P Kluge said the continent accounted for about half of confirmed cases globally and warned governments against relaxing lockdown measures.
Mumbai extends lockdown
Mumbai is to extend its current lockdown until at least 30 April. The city, which has a population of more than 20 million, has become the country's coronavirus centre. Other parts of India are scheduled to lift restrictions on Tuesday.
Technical analysis:
Gold has been trading sideways at the price of $1.645. The level at the price of $1.645 is key pivot level for further development.
The eventual downside breakout of the support at $1.645 would confirm test of $1.607 or even $1.570.
My advice is to watch for selling opportunities if you see the breakout of the support at $1.645. The downward targets are set at the price of $1.607 and $1.570.
MACD oscillator is showing that the slow line turned to the downside, which is another indication of potential downside rotation.
Resistance levels are set at the price of $1.673.
Key support level is set at $1.644.
