Thu, Jan 26, 2023 @ 23:04 GMT
HomeContributorsTechnical AnalysisGold Price Started a Fresh Increase from $1,865

Gold Price Started a Fresh Increase from $1,865

Gold price started a fresh increase from the $1,865 zone against the US Dollar. The price was able to settle above the $1,880 level to move into a positive zone.

The pair even climbed above the $1,900 level and the 50 hourly simple moving average. The price is now trading above the $1,910 level and is showing positive signs. An immediate resistance on the upside is near the $1,930 level.

The first major resistance is near $1,942 on FXOpen. The next main resistance could be near the $1,950 level, above which the price could start a steady increase towards the $1,965 level.

On the downside, an immediate support is near the $1,920 level. The next major support is near the $1,910 level, below which the price might decline towards the $1,888 support level in the near term. Any more losses might call for a test of $1,880.

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FXOpenhttps://www.fxopen.com/
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