Gold Struggles Below $1,960 Amidst Resistance"
Gold struggles to gain momentum, staying below $1,960 on Friday after a rebound from the three-week low at $1,944. The U.S. 10-year Treasury yield, holding above 4.6%, limits upward potential for XAU/USD. The daily chart shows attempts to surpass the 23.6% Fibonacci retracement level at $1,962.20, with positive developments but forming lower highs and lows below the 20-day SMA. Technical indicators are mildly bullish but in neutral territory.
On the 4-hour chart, XAU/USD faces sellers near the declining 20-day SMA, pulling its average below the flat 100-day SMA. Breaking above these indicators could encourage buyers for higher intraday profits. Technical indicators point north within negative territory.
Support levels: $1,945.20, $1,933.20, $1,923.10
Resistance levels: $1,965.30, $1,978.30, $1,989.00
On the 4-hour chart, XAU/USD faces sellers near the declining 20-day SMA, pulling its average below the flat 100-day SMA. Breaking above these indicators could encourage buyers for higher intraday profits. Technical indicators point north within negative territory.
Support levels: $1,945.20, $1,933.20, $1,923.10
Resistance levels: $1,965.30, $1,978.30, $1,989.00
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