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
