Gold fell below $1,740 during the American trading hours. Recovering US T-bond yields weigh on XAU/USD on Wednesday. Next support aligns at $1,730 ahead of $1,725. After edging higher to $1,750 area earlier in the day, the XAU/USD pair lost its traction during the American session and was last seen trading at $1,735, losing 0.45% on a daily basis. Despite the broad-based selling pressure surrounding the greenback, a more-than-1% increase seen in the benchmark 10-year US Treasury bond yield is making it difficult for gold to attract investors. Gold technical outlook On the four hour chart, the Relative Strength Index (RSI) indicator fell slightly below 50, suggesting that the pair is struggling to gather bullish momentum. On the downside, the next support is located at $1,730 (Fibonacci 38.2% retracement of Mar. 31-Apr. 8 rally, 100-period SMA) ahead of $1,725 (200-period SMA) and $1,720 (static level, Fibonacci 50% retracement). In case gold manages to hold above $1,730, it could retest $1,740 (Fibonacci 23.6% retracement) and continue to push higher toward $1,750 (daily high, static level). Additional gains toward $1,758 (Apr. 8 high) are likely if XAU/USD makes a daily close above $1,750. 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 AUD/USD bulls in control, but face a wall of resistance FX Street 2 years Gold fell below $1,740 during the American trading hours. Recovering US T-bond yields weigh on XAU/USD on Wednesday. Next support aligns at $1,730 ahead of $1,725. After edging higher to $1,750 area earlier in the day, the XAU/USD pair lost its traction during the American session and was last seen trading at $1,735, losing 0.45% on a daily basis. Despite the broad-based selling pressure surrounding the greenback, a more-than-1% increase seen in the benchmark 10-year US Treasury bond yield is making it difficult for gold to attract investors. Gold technical outlook On the four hour chart, the Relative Strength Index… 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.
