Gold Spot / U.S. DollarUpdated Gold Bounces Near $1,940 Amid Dollar Strength
Gold saw positive momentum in early Asian trading on Monday, supported by a stronger US dollar. However, potential rises in US treasury bond yields may limit further gains. Currently at $1,940, XAU/USD has 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 in a neutral zone.
On the 4-hour chart, XAU/USD met resistance at the 20-day SMA, sliding below the 100-day SMA. A breakthrough could attract buyers for intraday gains. Technical indicators show upward signals in 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 in a neutral zone.
On the 4-hour chart, XAU/USD met resistance at the 20-day SMA, sliding below the 100-day SMA. A breakthrough could attract buyers for intraday gains. Technical indicators show upward signals in negative territory.
Support: $1,945.20, $1,933.20, $1,923.10
Resistance: $1,965.30, $1,978.30, $1,989.00
Trade active
The 4h frame is progressing according to the trend!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.