The XAUUSD reached a value of 1,925.68 but experienced a decline of over 0.60%, dropping to around $1,925.
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- XAU/USD lost more than 0.60%, falling to the $1,925 area.
The pair currently trades last at 1925.68.
The previous day high was 1946.35 while the previous day low was 1936.86. The daily 38.2% Fib levels comes at 1940.49, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1942.72, expected to provide resistance.
In Tuesday’s session, the XAU/USD sharply declined, as the USD showed strong gains during the session, and the spot price closed at $1,925.
In that sense, the USD, measured by the DXY index, rose more than 0.50% to its highest level since March, around 104.80, while US bond yields, often seen as the opportunity cost of holding hold, saw more than 1% increases with the 2, 5 and 10-year bond rates rising to 4.96%,4.37% and 4.26%. That yield increase could be explained by Christopher Waller from the Federal Reserve (Fed) flirting with an additional hike, stating that it won’t cause a recession.
On a positive note, investors are closely monitoring the Chinese economic situation, as data on Tuesday showed that service activity fell to its lowest level in eight months, and the fear of a global economic downturn may limit the downside for the yellow metal.
Based on the daily chart, XAU/USD maintains a neutral to bearish technical perspective, suggesting that the bears are gradually gaining momentum but are not yet in total control. The Relative Strength Index (RSI) points south above its middle point, while the Moving Average Convergence (MACD) histogram shows decreasing green bars.
Support levels: $1,915 (20 and 200-day SMA convergence), $1,900, $1,890.
Resistance levels: $1,930, $1,950, $1,970.
Technical Levels: Supports and Resistances
XAUUSD currently trading at 1925.96 at the time of writing. Pair opened at 1938.23 and is trading with a change of -0.63 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1925.96 |
| 1 | Today Daily Change | -12.27 |
| 2 | Today Daily Change % | -0.63 |
| 3 | Today daily open | 1938.23 |
The pair is trading above its 20 Daily moving average @ 1915.19, below its 50 Daily moving average @ 1931.57 , below its 100 Daily moving average @ 1953.72 and above its 200 Daily moving average @ 1915.78
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1915.19 |
| 1 | Daily SMA50 | 1931.57 |
| 2 | Daily SMA100 | 1953.72 |
| 3 | Daily SMA200 | 1915.78 |
The previous day high was 1946.35 while the previous day low was 1936.86. The daily 38.2% Fib levels comes at 1940.49, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1942.72, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1934.61, 1930.99, 1925.12
- Pivot resistance is noted at 1944.1, 1949.97, 1953.59
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1946.35 |
| Previous Daily Low | 1936.86 |
| Previous Weekly High | 1953.01 |
| Previous Weekly Low | 1912.84 |
| Previous Monthly High | 1966.08 |
| Previous Monthly Low | 1884.85 |
| Daily Fibonacci 38.2% | 1940.49 |
| Daily Fibonacci 61.8% | 1942.72 |
| Daily Pivot Point S1 | 1934.61 |
| Daily Pivot Point S2 | 1930.99 |
| Daily Pivot Point S3 | 1925.12 |
| Daily Pivot Point R1 | 1944.10 |
| Daily Pivot Point R2 | 1949.97 |
| Daily Pivot Point R3 | 1953.59 |
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