Technical analysis
The EMA(50) and the EMA(100) tend to cross, which can be favourable for opening an order
The EMA(50) might surpass the EMA(100) after that, which will be beneficial for bulls
The MACD indicator line touched 0 from beneath and showed an upward direction
The RSI is below 50.
What the possible outcomes are
XAUUSD rebounded from yesterday’s decline, caused by the solid American new jobs numbers. The pair trades at 1,734. However, tomorrow will be crucial for the pair with the U.S. CPI data due to release. Today there will be no vital statistics, which may affect the pair. The gold price could gain support today from the vote on the U.S.dollar 1 trillion infrastructure bill at the Senate.
If the price passes the initial resistance level of 1,743.99, it could test the next one higher at 1,752.92.
Alternatively, if the price reverses, then it could reach the first support level of 1,728.26.
A pass below the first level can move the price up lower toward 1,718.25.
Key levels
Support 1,728.26 1,718.25
Resistance 1,743.99 1,752.92
