XAUUSD (GOLD) price action with cloud and trendline
Gold continues to trade lower on de-escalation of tension between Russia and Ukraine. Markets await Fed monetary policy this week for further direction. Any 50 basis point rate hike will pull yellow metal don below $1900.
Technical:
The near–term support is around $1960, violation below targets $1925/$1900. Significant reversal only below $1875.The yellow metal faces strong resistance of $2020, any violation above will take to the next level $2050/$2075.
Technical:
The near–term support is around $1960, violation below targets $1925/$1900. Significant reversal only below $1875.The yellow metal faces strong resistance of $2020, any violation above will take to the next level $2050/$2075.