GOLD → Attempt to buy back the fall. Uncertainty factor

XAUUSD is falling within our expectations. After breaking through the trigger-level of 3340, the price fell to the liquidity zone of 3306. There is uncertainty in the market...



Gold is rising after a false break of support at 3300-3306, interrupting a three-day decline amid a weakening dollar and ongoing tensions in the Middle East. Investors are cautious due to the unstable truce between Iran and Israel, while the decline in USD/JPY after the Bank of Japan's statements and the rise in PPI in Japan are further supporting demand for gold. Powell's comments on the need for caution in monetary policy only temporarily strengthened the dollar. Now the market is focused on US housing data and the second day of Powell's speech
Technically, the price may consolidate at 3306-3347 for some time and only then show us (against the backdrop of the fundamental sentiment that has formed) which direction it will then take

Resistance levels: 3347, 3364, 3372
Support levels: 3319, 3307

The market is trying to buy back the decline. Tuesday's daily session closed with a long shadow, indicating interest in this price range. A pullback to 3320-3310 is possible before growth to 3340-3347.

Best regards, R. Linda!