XAUUSD Moving Average Test

Gold is looking for uncertainty in the short-term after falling sharply lower on Friday after another rejection from the $1,900 level. It is possible that bears could force the price of gold back towards the metals key 50-day moving average at some point this week. Sustained weakness below the $1,870 support level is likely to encourage more technical selling towards the price of gold.


XAUUSD is only bullish while trading above the $1,870 level, key resistance is found at the $1,900 and the $1,915 levels. If XAUUSD trades below the $1,870 level, sellers may test the $1,855 and $1,840 support levels.



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