Gold Bounces Near $1,940 Amid Dollar Strength
Gold saw positive momentum in early Asian trading on Monday, supported by a stronger US dollar. However, potential rises in US treasury bond yields may limit further gains. Currently at $1,940, XAU/USD has a 0.22% daily increase.
The daily chart shows attempts to surpass the 23.6% Fibonacci retracement, but with lower highs and lows under the 20-day SMA. Technical indicators are slightly rising in a neutral zone.
On the 4-hour chart, XAU/USD met resistance at the 20-day SMA, sliding below the 100-day SMA. A breakthrough could attract buyers for intraday gains. Technical indicators show upward signals in negative territory.
Support: $1,945.20, $1,933.20, $1,923.10
Resistance: $1,965.30, $1,978.30, $1,989.00
The daily chart shows attempts to surpass the 23.6% Fibonacci retracement, but with lower highs and lows under the 20-day SMA. Technical indicators are slightly rising in a neutral zone.
On the 4-hour chart, XAU/USD met resistance at the 20-day SMA, sliding below the 100-day SMA. A breakthrough could attract buyers for intraday gains. Technical indicators show upward signals in negative territory.
Support: $1,945.20, $1,933.20, $1,923.10
Resistance: $1,965.30, $1,978.30, $1,989.00
Trade active:
The 4h frame is progressing according to the trend!
