Gold Technical Analysis October 12, 2023
The Gold rose 0.71% against the USD on Wednesday and closed at 1873.60. Today in the European session, while the Gold technical Analysis October 12, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1876.00, which is 0.15% higher than Yesterday’s close.
The Gold is expected to find support at 1875.00, and a fall-through could take it to the next support level of 1870.00. The pair is expected to find its first resistance at 1874.00, and a rise-through could take it to the next resistance level of 1879.00. Today’s expected trading range is between 1765.00 support and 1885.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1875.00
Support 2: 1870.00
Support 3: 1765.00
Important resistance levels:
Resistance 1: 1885.00
Resistance 2: 1892.00
Resistance 3: 1900.00