Main Quotes Calendar Forum
flag

FX.co ★ Technical review for XAU/USD: price could decline again

parent
Forex Analysis:::2022-05-12T12:53:36

Technical review for XAU/USD: price could decline again

Gold is under pressure because the latest report on US inflation is likely to force the Fed to keep on increasing interest rates aggressively, which supports dollar.

Technical picture:

The quote is currently below the middle line of the Bollinger indicator, under the SMA 5 and SMA 14. The relative strength index (RSI) is also below 50% and is declining.

Possible dynamics:

Dipping below 1846.70 will prompt a further fall to 1830.80.

Technical review for XAU/USD: price could decline again

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...