Tue, Mar 28, 2023 @ 15:16 GMT
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XAU/USD Tests Resistance

Gold clawed back some losses as the dollar hit a speed bump. A pop above the immediate resistance of 1827 has prompted some sellers to take profit, alleviating the downward pressure. The tip of the previous timid rebound at 1845 coincides with the 20-day SMA, and the bears are expected to sell into strength in this key congestion area. However, a bullish breakout would clear the path for a sustained rally towards 1880 currently sitting next to the 30-day SMA. On the downside, 1823 is the first support.

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