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XAU/USD below $1,900 could trigger a sell-off – ANZ – Crypto News
Gold prices consolidated in the $1,900-$1,940 range. Economists at ANZ Bank analyze XAU/USD’s technical outlook.
In a neutral zone
To break the current downward trend, prices need to move above the recent high of $1,940, which coincides with the trendline resistance level. The next resistance lies near $2,000 and a decisive rally above that would confirm a bullish signal. The Relative Strength Index (RSI) looks neutral as well.
On the downside, a breach of $1,900 could set a bearish market sentiment.
Overall, we expect Gold to trade in the range of $1,900-$1,950, if there are no surprises from the Fed.
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