Gold (XAU/USD) prices remain pressured around a three-month low, reversing the early Asian rebound, as the risk-off mood underpins the USD’s safe-haven demand. Also keeping the gold sellers hopeful is the clear downbeat break of an ascending trend line from August 2021, portrayed the previous day.
Gold Price: Key levels to watch
The Technical Confluences Detector shows that the Gold Price is eyeing a test of the Pivot Point 1 month S2 and Pivot Point 1 Day S2, surrounding $1,797.
Should the quote drops below $1,797, which is more likely considering Friday’s key trend line break, lows marked during January around $1,780 will be in focus.
It’s worth noting that the Bollinger Band Lower on 4H and 1D could offer immediate support around the $1,800 threshold.
On the contrary, SMA 5H and Middle Bollinger on 1H may test recovery moves around $1,815.