Gold Technical Analysis Aug 18, 2023
The Gold declined 0.28% against the USD on Thursday and closed at 1888.90. Today in the European session, while the Gold technical Analysis Aug 18, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1893.00, which is 0.20% higher than Yesterday’s close.
The Gold is expected to find support at 1889.00, and a fall-through could take it to the next support level of 1880.00. The pair is expected to find its first resistance at 1895.00, and a rise-through could take it to the next resistance level of 1900.00. Today’s expected trading range is between 1870.00 support and 1906.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1889.00
Support 2: 1885.00
Support 3: 1870.00
Important resistance levels:
Resistance 1: 1895.00
Resistance 2: 1900.00
Resistance 3: 1906.00