Gold Price Forecast: XAU/USD set to test critical resistance at $1,825

FXStreet Insights Team FXStreet

Gold price extends previous gains above $1,800. Will XAU/USD recapture $1,825 heading into 2023? FXStreet’s Dhwani Mehta analyzes the pair’s technical picture.

Bulls to target resistance at $1,825

“The path of least resistance for Gold price appears to the upside amid a bunch of healthy support levels. The immediate support awaits at $1,791. Daily closing below the latter will confirm the downside break from the triangle, negating the ongoing bullish momentum. The next downside cap is seen at the mildly bearish 200 Daily Moving Average (DMA) at $1,782. Further south, the dashed horizontal support at $1,773 will be probed.”

“Gold price needs acceptance above the December 14 high of $1,814, for another run toward the critical resistance at $1,825.”

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FXStreet Insights Team

FXStreet

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