💲 XAUUSD: Fundamental analysis of the new trend of GOLD
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Hello trader, some important analyzes you need to pay attention to!
Gold remains defensive near 1,900 amid USD demand
In terms of technical analysis, the daily chart of XAU/USD suggests a potential change in direction. XAU/USD experienced a significant decline for two consecutive days, pushing its price below all moving averages. The 89 EMA is currently acting as a strong support level, positioned above the converging 34 and 200 EMA. Simultaneously, the Momentum indicator showed a slight decrease, falling just below the 100 mark, while the Relative Strength Index (RSI) indicated an upward trend around 39 without any signs of exhaustion.
Support levels: 1,901.00 1,884.70 1,872.90
Resistance levels: 1,907.70 1,921.80 1,933.30
Gold remains defensive near 1,900 amid USD demand
In terms of technical analysis, the daily chart of XAU/USD suggests a potential change in direction. XAU/USD experienced a significant decline for two consecutive days, pushing its price below all moving averages. The 89 EMA is currently acting as a strong support level, positioned above the converging 34 and 200 EMA. Simultaneously, the Momentum indicator showed a slight decrease, falling just below the 100 mark, while the Relative Strength Index (RSI) indicated an upward trend around 39 without any signs of exhaustion.
Support levels: 1,901.00 1,884.70 1,872.90
Resistance levels: 1,907.70 1,921.80 1,933.30
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