Gold consolidates the $90 bounce below $1950, having witnessed good two-way volatility on Wednesday. Falling US Treasury yields continue to pressure the US dollar across the board, supporting the yieldless gold. Fading hopes of additional US fiscal stimulus combined with coronavirus concerns continue to undermine the sentiment around the greenback. Upbeat US CPI data sent the Wall Street indices to near-record highs, which knocked-off the safe-haven dollar while lifting the yellow metal from NY lows of $1907. Technically, the bull-bear tug-of-war is likely to extend as long as the price holds the $1900-1950 range. XAU/USD: Key resistances and supports The tool shows that the bright metal is struggling around the key resistance at $1933, which the Fibonacci 23.6% one-month and SMA50 15-minutes. The next hurdle awaits at $1936, a minor confluence of Bollinger Band one-day Middle and SMA10 15-minutes. The buying pressure is likely to accelerate above the latter, driving the spot to test the $1950 barrier, which is the previous day high. Next up, the bulls will aim for the pivot point one-day R1 at $1956. To the downside, the next relevant support is aligned at $1917, the Fibonacci 38.2% one-day. Strong support between $1910/07 will keep the buyers hopeful. That cluster of supports is the pivot point one-week S2. Here is how it looks on the tool About the Confluence Detector With the TCI (Technical Confluences Indicator) tool you can easily locate areas where the price can find a support zone or resistance zone and make trading decisions. If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points each time. If you are a medium- and long-term trader, this tool will allow you to know in advance the price levels in which a medium / long-term trend can stop your travel and rest, where to undo positions or where to increase your position. Learn more about Technical Confluence FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cosmos Price Analysis: ATOM/USD soars past $6.00 as the focus shifts to $7.00 FX Street 2 years Gold consolidates the $90 bounce below $1950, having witnessed good two-way volatility on Wednesday. Falling US Treasury yields continue to pressure the US dollar across the board, supporting the yieldless gold. Fading hopes of additional US fiscal stimulus combined with coronavirus concerns continue to undermine the sentiment around the greenback. Upbeat US CPI data sent the Wall Street indices to near-record highs, which knocked-off the safe-haven dollar while lifting the yellow metal from NY lows of $1907. Technically, the bull-bear tug-of-war is likely to extend as long as the price holds the $1900-1950 range. XAU/USD: Key resistances and supports The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
