Gold Price Analysis: Bears dominate below critical 15-min resistance
Gold has enjoyed weakness in US yields this week and is drawing to a close in bullish territory. Gold is consolidating the recent weakness in both the US dollar and US yields. There are, however, prospects of a break to the downside on the 15-min time frame.
However, the price is testing critical hourly support while now below a key 15-min 10 and 21 EMA crossover, so there is something here for both the bulls and bears as illustrated in the following chart analysis.
Gold Price Analysis: XAU/USD bears stepping in at a critical resistance zone
Gold prices were elevated again on Thursday as the US dollar dipped to a fresh low on the back of sliding US yields. At the time of writing, XAU/USD is trading at $1,754.55 having popped from a low of $1,733.26 to a high of $1,758.72 on the day. US Treasury yields were losing ground again due to the fresh dovish comments from Federal Reserve Chair Jerome Powell.
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