Technical Overview
XAU/USD accelerated its slide once below the $2,000 level and currently trades in the $1,991 region, at its lowest in two weeks. The daily chart shows that the bright metal sunk below a directionless 34-89 EMA, while the longer ones maintain their bullish slopes far below it. At the same time, technical indicators turned lower and are currently piercing their midlines, anticipating additional declines in the upcoming sessions.
Support levels: 1,987.45 1,969.20 1,956.70
Resistance levels: 1,989,75 2,008.40 2,029.10
XAU/USD accelerated its slide once below the $2,000 level and currently trades in the $1,991 region, at its lowest in two weeks. The daily chart shows that the bright metal sunk below a directionless 34-89 EMA, while the longer ones maintain their bullish slopes far below it. At the same time, technical indicators turned lower and are currently piercing their midlines, anticipating additional declines in the upcoming sessions.
Support levels: 1,987.45 1,969.20 1,956.70
Resistance levels: 1,989,75 2,008.40 2,029.10
