XAUUSD Is Possibly Bearish

Technical analysis


The MACD indicator line is above 0, pointing down

The RSI is above 50.


What the possible outcomes are


XAUUSD steadies above 1,800 after the strong rally of Monday trading. In the meantime, the yields of benchmark U.S. -10 year Treasury bills start to rise, marking the opposite direction for XAUUSD.


If the price passes the initial support level of 1,799.84, it could test the next lower at 1,790.33.

Alternatively, if the price reverses, then it could reach the first resistance level of 1,805.73.

A pass above the first level can move the price up higher towards 1,810.09.


Key levels


Support 1,799.84 1,790.33

Resistance 1,805.73 1,810.09


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