Gold Holds Near $1,980, Eyes FOMC Meeting Minutes
Gold shows signs of recovery, surpassing the 20-day Simple Moving Average (SMA) at $1,975. To gain additional strength, XAU/USD needs to close above $1,975 on a daily basis. On the contrary, a consolidation and a daily close below $1,960 could indicate the potential for an extended correction.
Looking at the 4-hour chart, technical indicators support the upward trend ahead of the Asian trading session. The key resistance to watch is $1,981. If the price moves above this level, the focus will shift to $1,987 and then $1,992.
Support Levels: $1,963, $1,954, $1,944
Resistance Levels: $1,981, $1,992, $2,001
Looking at the 4-hour chart, technical indicators support the upward trend ahead of the Asian trading session. The key resistance to watch is $1,981. If the price moves above this level, the focus will shift to $1,987 and then $1,992.
Support Levels: $1,963, $1,954, $1,944
Resistance Levels: $1,981, $1,992, $2,001
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.