#XAUUSD @ 1,802.10 A stronger US Dollar and higher US yields sent gold prices below $1,800. (Pivot Orderbook analysis)

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• A stronger US Dollar and higher US yields sent gold prices below $1,800.
• Next support is a short-term uptrend line around $1,795.
• US stocks turn negative, adding support to the Dollar.

The pair currently trades last at 1802.10.

The previous day high was 1833.38 while the previous day low was 1800.46. The daily 38.2% Fib levels comes at 1820.8, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1813.04, expected to provide resistance.

Gold prices extended losses during the American session and printed a fresh daily low at $1,797. Currently, XAU/USD is hovering around $1,800 with a bearish bias.

A slide back under $1,800 would make gold vulnerable to a decline to test an uptrend line around $1,795. A break below could trigger more losses, to the $1,785 zone. Below the next support is located at $1,773 (Dec 15 & 16 low).

On the upside, Gold faces immediate resistance at $1,805. A break above $1,810 would improve the short-term outlook for the yellow metal. The critical level continues to be $1,820: a consolidation above would add a new support for a test of $1,830.

The slide in Gold took place as equity prices in Wall Street turned negative and amid a rebound in US yields to fresh daily highs. The context weighed on XAU/USD. The US Dollar Index rose from the lowest level in almost a week at 103.84 to 104.45, the strongest since Friday.

Silver is falling by 1.80% and crude oil tumbles 2%. The Dow Jones is losing 0.53% and the Nasdaq 0.95%.

Technical Levels: Supports and Resistances

XAUUSD currently trading at 1798.0 at the time of writing. Pair opened at 1812.83 and is trading with a change of -0.82 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1793.3, 50 SMA 1739.29, 100 SMA @ 1722.43 and 200 SMA @ 1782.26.

The previous day high was 1833.38 while the previous day low was 1800.46. The daily 38.2% Fib levels comes at 1820.8, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1813.04, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1797.73, 1782.64, 1764.81
• Pivot resistance is noted at 1830.65, 1848.48, 1863.57

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