XAUUSD

24 May

XAUUSD In terms of technical analysis, XAU/USD retreated for the third straight session on Thursday, breaching an important trendline at $2,360 and the 38.2% Fibonacci retracement of the 2023 rally at $2,335. If losses accelerate in the coming days, the 50-day simple moving average at $2,310 will be the next line of defense against a bearish assault, followed by $2,300 and $2,280 thereafter.