- Gold is still under pressure, unable to consolidate recovery.
- XAU / USD gives more than $ 20 from the day’s high and then bounces closer to $ 1850.
He Gold reversed strongly in the last hour and plummeted from levels above $ 1860 to $ 1836, marking a new low for the day. The abrupt change made the gold vulnerable and the intraday trend changed.
The XAU / USD pullback came as the dollar strengthened slightly and after Treasury yields hit new highs since March.
He DXY continues to trade sideways with a slight loss compared to Monday’s close, but now testing the upper limit. The fall in gold may have been due to and accelerated also by technical factors as it initially broke below the very short-term support of $ 1855 and then below $ 1850, where there is also the 20-hour moving average.
Technical issues may have accelerated the decline in gold, which also remains vulnerable despite the rebound in the US session on Monday. The sharp drop of more than a hundred dollars from the peak of last week, took out the shine, which is trying to recover, so far without success.
A A return above $ 1850 would ease the downward pressure. Above the next key resistance sits at $ 1875. In the opposite direction, below $ 1835, attention will shift to the $ 1815/20 zone where there is a significant barrier.
Technical levels
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