XAUUSD

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XAUUSD

Despite the high tensions in the Middle East, the rise of the Dollar index has increased the pressure on gold. Gold fell to $2725 after rising to $2760 with sales. Today's unemployment claims and PMI data from the US may impact gold pricing. Additionally, the price movement within the $2710-$2730 range indicates that investors are in a decision-making phase. Sustained price movements above $2730 can strengthen positive expectations, while movements below $2710 might bring negative scenarios to the forefront.

The XAU/USD pair is trading at a position supported by the 55-period exponential moving average at $2700 on the 4-hour chart. On the downside, the support levels of $2690, $2685, and $2680 stand out, while upward movements are watched at resistance levels of $2710, $2720, and $2730. The RSI indicator is at the 40 level, close to the oversold region, displaying a negative outlook. Spot gold, which showed a 0.40% decrease compared to the previous day, presents a technically weak appearance.

Support :

2690 - 2685 - 2680

Resistance :

2710 - 2720 - 2730