XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance. Despite the heavy selling pressure surrounding the greenback, the XAU/USD pair posted losses on Monday as the recovering US Treasury bond yields made it difficult for gold to find demand. With the benchmark 10-year US T-bond yield losing nearly 1% on Tuesday, however, the pair managed to regain its traction and was last seen gaining 0.2% on the day at $1,774.70. Gold technical outlook Gold is currently trading around the Fibonacci 23.6% retracement of the latest uptrend that started on Thursday and lasted for three trading days. If XAU/USD manages to close a four-hour candle above that level, it could look to test $1,790 (Monday high) ahead of $1,800 (psychological level). However, the sharp U-turn witnessed at $1,790 on Monday suggests that gold could struggle to clear that hurdle unless the move is fueled by another leg down in US T-bond yields. On the downside, the initial support is located at $1,772 (20-period SMA) before $1,767 (Fibonacci 38.2% retracement) and $1,760 (Fibonacci 50% retracement). 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 S&P 500 Index: Vcorrective phase to emerge from the 4200 mark – Credit Suisse FX Street 2 years XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance. Despite the heavy selling pressure surrounding the greenback, the XAU/USD pair posted losses on Monday as the recovering US Treasury bond yields made it difficult for gold to find demand. With the benchmark 10-year US T-bond yield losing nearly 1% on Tuesday, however, the pair managed to regain its traction and was last seen gaining 0.2% on the day at $1,774.70. Gold technical outlook Gold is currently trading around… 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.
