Gold tests resistance range.

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


The price for gold found support in the 50, 100 and 200-hour simple moving averages and returned to test the 2,035.00/2,040.00 range. At mid-Tuesday, the price passed above the range. The surge was heading to the 2,050.00 mark, where a pause could take place, before the publication of the US Federal Funds Rate.

A continuation of the surge above 2,050.00 could be slowed down by the 2,060.00 and 2,075.00 levels, before the metal reaches the late 2023 high levels near 2,085.00/2,090.00.

On the other hand, a decline might look for support in the 2,035.00/2,040.00 range. Further below, note the ascending 50, 100 and 200-hour simple moving averages near 2,030.00. Below 2,030.00, there are two support ranges near 2,010.00 and 2,050.00.
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