Fri, Jan 27, 2023 @ 10:39 GMT
HomeContributorsTechnical AnalysisGold Price Started a Fresh Increase from $1,900

Gold Price Started a Fresh Increase from $1,900

Gold price started a fresh increase from the $1,900 zone against the US Dollar. The price was able to settle above the $1,915 level to move further into a positive zone.

The pair even climbed above the $1,920 level and the 50 hourly simple moving average. The price is now trading above the $1,925 level and is showing positive signs. An immediate resistance on the upside is near the $1,935 level.

The first major resistance is near $1,938 on FXOpen. The next main resistance could be near the $1,945 level, above which the price could start a steady increase towards the $1,955 level.

On the downside, an immediate support is near the $1,927 level and a connecting bullish trend line. The next major support is near the $1,922 level, below which the price might decline towards the $1,905 support level in the near term. Any more losses might call for a test of $1,900.

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