Fri, Mar 24, 2023 @ 22:52 GMT
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XAU/USD Grinds Major Support

Gold struggles as the dollar index trades near a three-month high following Powell’s hawkish testimony. The precious metal has given up all gains from its bounce earlier this month, putting the bulls on the defensive. As the price revisited the bottom at 1807, the RSI’s oversold condition attracted bargain hunters. But buyers must lift multiple hurdles before they could turn sentiment around. 1833 is the first resistance and the selling pressure may increase all the way to 1845. 1785 would be next in case of a bearish breakout.

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