Gold bounces off 2,000.00

Source: Dukascopy Bank SA


The price of Gold ignored the 50 and 100-hour simple moving averages and approached the 2,000.00 mark. At midnight to Tuesday the price bounced off the round level. By mid-Tuesday, the metal appeared to be heading back to the 1,970.00/1,975.00 support zone.

A decline of the commodity price would have to reach below 1,970.00, before approaching the February and January high levels at 1,960.00 and 1,949.00.

Meanwhile, a recovery of the metal's value might encounter resistance in the 2,000.00 mark and the 2,000.00/2,010.00 range. Higher above, note that round price levels acted as resistance and support during the first half of April.
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Wed, 26 Apr 2023 11:40:59 GMT

EUR/USD respects pivot point

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