Gold Struggles Below $1,960 Amidst Resistance"
Gold struggles to gain momentum, staying below $1,960 on Friday after a rebound from the three-week low at $1,944. The U.S. 10-year Treasury yield, holding above 4.6%, limits upward potential for XAU/USD. The daily chart shows attempts to surpass the 23.6% Fibonacci retracement level at $1,962.20, with positive developments but forming lower highs and lows below the 20-day SMA. Technical indicators are mildly bullish but in neutral territory.
On the 4-hour chart, XAU/USD faces sellers near the declining 20-day SMA, pulling its average below the flat 100-day SMA. Breaking above these indicators could encourage buyers for higher intraday profits. Technical indicators point north within negative territory.
Support levels: $1,945.20, $1,933.20, $1,923.10
Resistance levels: $1,965.30, $1,978.30, $1,989.00
On the 4-hour chart, XAU/USD faces sellers near the declining 20-day SMA, pulling its average below the flat 100-day SMA. Breaking above these indicators could encourage buyers for higher intraday profits. Technical indicators point north within negative territory.
Support levels: $1,945.20, $1,933.20, $1,923.10
Resistance levels: $1,965.30, $1,978.30, $1,989.00
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.