Gold Bounces Around $1,940 Amid Dollar Strength
Gold gained in early Asian trading on Monday due to a stronger US dollar. However, potential increases in US treasury bond yields may limit further gains. Currently at $1,940, XAU/USD has seen a 0.22% daily increase.
The daily chart shows attempts to surpass the 23.6% Fibonacci retracement, but with lower highs and lows under the 20-day SMA. Technical indicators are slightly rising but remain neutral.
On the 4-hour chart, XAU/USD met sellers near the 20-day SMA, dipping below the 100-day SMA. Breaking these levels could attract buyers for intraday gains, with technical indicators signaling upward within negative territory.
Support: $1,945.20, $1,933.20, $1,923.10
Resistance: $1,965.30, $1,978.30, $1,989.00
The daily chart shows attempts to surpass the 23.6% Fibonacci retracement, but with lower highs and lows under the 20-day SMA. Technical indicators are slightly rising but remain neutral.
On the 4-hour chart, XAU/USD met sellers near the 20-day SMA, dipping below the 100-day SMA. Breaking these levels could attract buyers for intraday gains, with technical indicators signaling upward within negative territory.
Support: $1,945.20, $1,933.20, $1,923.10
Resistance: $1,965.30, $1,978.30, $1,989.00
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