Gold Technical Analysis Aug 9, 2023
The Gold declined 0.60% against the USD on Tuesday and closed at 1924.70. Today in the European session, while the Gold technical Analysis Aug 9, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1926.50, which is 0.10% higher than Yesterday’s close.
The Gold is expected to find support at 1923.00, and a fall-through could take it to the next support level of 1913.00. The pair is expected to find its first resistance at 1932.00, and a rise-through could take it to the next resistance level of 1935.00. Today’s expected trading range is between 1903.00 support and 1946.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1923.00
Support 2: 1913.00
Support 3: 1903.00
Important resistance levels:
Resistance 1: 1932.00
Resistance 2: 1935.00
Resistance 3: 1946.00