Gold Technical Analysis Aug 3, 2023
The Gold declined 0.79% against the USD on Wednesday and closed at 1934.00. Today in the European session, while the Gold technical Analysis Aug 3, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1935.00, which is 0.04% higher than Yesterday’s close.
The Gold is expected to find support at 1931.00, and a fall-through could take it to the next support level of 1927.00. The pair is expected to find its first resistance at 1941.00, and a rise-through could take it to the next resistance level of 1954.00. Today’s expected trading range is between 1903.00 support and 1962.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1931.00
Support 2: 1927.00
Support 3: 1903.00
Important resistance levels:
Resistance 1: 1941.00
Resistance 2: 1954.00
Resistance 3: 1962.00