HomeContributorsTechnical AnalysisXAU/USD Grinds Supply Aarea

XAU/USD Grinds Supply Aarea

Gold keeps the high ground as the US dollar remains under pressure across the board. On the daily chart, solid bullish candles have sent the price to the supply area around 1915 at the start of the February sell-off. As the RSI comes off the overbought zone the bulls could use some breathing room before they would push even higher. 1874 is the immediate support to gauge the strength of follow-up bids. Further down, 1845 near the moving averages sits at the origin of the bullish breakout, making it an important support.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading