Gold passes below support

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday morning, the price for gold passed below the 50 and 100-hour simple moving averages, the lower trend line of a channel up pattern and the 1,930.00 mark. Essentially, the price had declined due to bouncing off a resistance zone at 1,939.30/1,942.30.

An extension of the decline could look for support in the 1,920.00 level and the 200-hour simple moving average. Further below, note that the 1,915.00 level has acted as support.

On the other hand, a recovery of the commodity price could encounter resistance near 1,930.00. Higher above, note the 1,939.30/1,942.30 zone.
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Thu, 26 Jan 2023 10:48:45 GMT

EUR/USD tests resistance zone

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