XAUUSD: Economic stability for gold to continue downtrend

Gold is facing difficulties in making significant progress on Thursday and is currently hovering close to its lowest point since mid-March, which was reached during the Asian session. The XAU/USD pair is trading around the 1,890 mark and appears to be exposed to potential risks following a bearish breakout below the crucial 200-day SMA overnight. This marks the first occurrence of such a break since November 2022.

Support levels: 1,896.30 1,888.30 1,879.95

Resistance levels: 1,915.30 1,9221 1,934.85

Comment:

FULL TP

Trade closed: stop reached