Gold Price News and Forecast: XAU/USD bears lurking at critical support structure


Gold Price Analysis: XAU/USD bulls jostle with bears beyond $2,000

Gold prices seesaw near $2,027/28 during the pre-Tokyo open Asian session on Tuesday. The yellow metal recently recovered from $2,019 but stays pressured after declining for the last two consecutive trading days. Despite many indicators portraying the rush to risk-safety, the US dollar’s gains could be spotted as the key driver of the bullion’s latest weakness.

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XAU/USD

Overview
Today last price 2026.4
Today Daily Change -8.76
Today Daily Change % -0.43
Today daily open 2035.16
 
Trends
Daily SMA20 1914.43
Daily SMA50 1815.93
Daily SMA100 1750.33
Daily SMA200 1642.89
 
Levels
Previous Daily High 2075.32
Previous Daily Low 2015.68
Previous Weekly High 2075.32
Previous Weekly Low 1960.67
Previous Monthly High 1984.8
Previous Monthly Low 1757.7
Daily Fibonacci 38.2% 2038.46
Daily Fibonacci 61.8% 2052.54
Daily Pivot Point S1 2008.79
Daily Pivot Point S2 1982.41
Daily Pivot Point S3 1949.15
Daily Pivot Point R1 2068.43
Daily Pivot Point R2 2101.69
Daily Pivot Point R3 2128.07

 

Gold Price Analysis: Bears lurking at critical support structure

The price of gold has been bleeding out from the highs of last week, unable to come up for air on Monday without being faded. At the time of writing, XAU/USD is trading at $2,026 having travelled between a high of $2,049.91 and $2019.30.

The DXY has been staging a recovery since formulating a double bottom on the 40HR time frame, extending the correction to a high of 93.70 on Monday, some 50 pips higher than the lows. 

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