#XAUUSD @ 1,879.65 Gold Price Forecast: bulls to take a breather before targeting $1,900
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Gold price is consolidating the two-day uptrend near the highest level in eight months at $1,880. XAU/USD could take a breather before recapturing $1,900, FXStreet’s Dhwani Mehta reports.
“Gold has paused its advance, as the Relative Strength Index (RSI) is flirting with the overbought territory, warranting caution for bulls.”
“Recapturing the multi-month high at $1,880 is critical to targeting $1,900 once again. Daily closing above the latter is needed to extend the bullish reversal.”
“If Gold sellers take out support at $1,865, then a fresh drop toward the bullish 21-Simple Moving Average (SMA) at $1,853 cannot be ruled out.”
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