XAU/USD rises on Thursday supported by falling US T-bond yields. Gold faces a resistance at $1,750 in the near term. A downward correction to $1,740 is likely if XAU/USD fails to clear $1,750. The XAU/USD pair closed in the negative territory on Wednesday but didn’t have a difficult time reversing its direction on Thursday as US Treasury bond yields continue to drive gold’s movements ahead. The benchmark 10-year US T-bond yield, which rose 1.4% on Wednesday, is currently losing 1.6% at 1.613%, helping XAU/USD preserve its bullish momentum. Gold technical outlook On the four-hour chart, the Relative Strength Index (RSI) indicator edged higher to 60, suggesting that buyers are trying to remain in control of the price. However, gold lost its traction near $1,750 in the last two trading days and it could have a difficult time gathering bullish momentum unless it manages to make a daily close above that level. The next resistance could be seen at $1,758 (Apr. 8 high). On the downside, the initial support is located at $1,740 (Fibonacci 23.6% retracement of Mar. 31-Apr. 8 rally, 50-period SMA) ahead of $1,730 (Fibonacci 38.2% retracement, 100-period SMA) and $1,725 (200-period SMA). Additional levels to watch for 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 Enjin Coin Price Prediction: ENJ on brink of colossal 45% breakout FX Street 2 years XAU/USD rises on Thursday supported by falling US T-bond yields. Gold faces a resistance at $1,750 in the near term. A downward correction to $1,740 is likely if XAU/USD fails to clear $1,750. The XAU/USD pair closed in the negative territory on Wednesday but didn't have a difficult time reversing its direction on Thursday as US Treasury bond yields continue to drive gold's movements ahead. The benchmark 10-year US T-bond yield, which rose 1.4% on Wednesday, is currently losing 1.6% at 1.613%, helping XAU/USD preserve its bullish momentum. Gold technical outlook On the four-hour chart, the Relative Strength Index (RSI)… 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.
