XAU increased sharply before PMI news
cadastral risks in the Middle East and the expectation that the Fed will maintain the current situation, this increases the attractiveness for
However, the increase in USD and government bond yields across all terms could weaken the upward momentum of XAU/USD. The market is focusing on the US PMI report published tonight.
On the D1 frame, the key resistance to watch is at $2,090, with the next target at $2,100, the 21-day MA at $2,037 and the all-time high at $2,144. Gold's upward momentum is reinforced when the RSI rises above 50 and the 100-day MA is about to cross above the 200-day MA.
On the contrary, if sellers regain control, the first support to watch is last Friday's bottom at $2,058, then $2,050.
However, the increase in USD and government bond yields across all terms could weaken the upward momentum of XAU/USD. The market is focusing on the US PMI report published tonight.
On the D1 frame, the key resistance to watch is at $2,090, with the next target at $2,100, the 21-day MA at $2,037 and the all-time high at $2,144. Gold's upward momentum is reinforced when the RSI rises above 50 and the 100-day MA is about to cross above the 200-day MA.
On the contrary, if sellers regain control, the first support to watch is last Friday's bottom at $2,058, then $2,050.
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TP1 : 1970
TP2: 1980
SL: 1950