XAU/USD’s technical outlook suggests a bullish bias remains intact – Crypto News – Crypto News
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XAU/USD buyers eye $1,830 hurdle ahead of US ISM Services PMI XAU/USD buyers eye $1,830 hurdle ahead of US ISM Services PMI

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XAU/USD’s technical outlook suggests a bullish bias remains intact – Crypto News

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3 years ago

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Gold has extended its rebound towards $1,800. A look at XAU/USD’s technical picture confirms the bullish biasFXStreet’s Eren Sengezer reports.

Failure to defend $1,792 could trigger additional losses.

“The Relative Strength Index (RSI) indicator on the daily charts climbed above 60 on Friday, pointing to a buildup of bullish momentum. Additionally, XAU/USD climbed above the 200-day Simple Moving Average, which is currently located at $1,792.”

“On the upside, $1,800 (psychological level, static level) aligns as initial resistance before $1,830 (Fibonacci 50% retracement of the long-term downtrend) and $1,860 (static level) next.”

“In case buyers fail to defend $1,792, additional losses towards $1,780 (Fibonacci 38.2% retracement) and $1,770 (static level, 20-day SMA) could be witnessed.”

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