Gold Technical Analysis Aug 1, 2023
The Gold rose 0.29% against the USD on Monday and closed at 1965.00. Today in the European session, while the Gold technical Analysis Aug 1, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1955.00, which is 0.52% lower than Yesterday’s close.
The Gold is expected to find support at 1953.00, and a fall-through could take it to the next support level of 1950.00. The pair is expected to find its first resistance at 1962.00, and a rise-through could take it to the next resistance level of 1972.00. Today’s expected trading range is between 1942.00 support and 1982.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1953.00
Support 2: 1950.00
Support 3: 1942.00
Important resistance levels:
Resistance 1: 1962.00
Resistance 2: 1972.00
Resistance 3: 1982.00