Gold Price manages to hold above key support, awaits next catalyst By eren_fxstreet Gold XAUUSD Metals Technical Analysis
23.6% retracement of the latest downtrend forms interim support at $1,850. If this level turns into resistance, XAUUSD could decline toward $1,840, where the 200-day SMA is located. A daily close below that level could be seen as a significant bearish development and open the door for additional losses.
Until a fundamental catalyst triggers a strong market reaction, it wouldn't be surprising to see XAUUSD continue to fluctuate in the $1,875-$1,840 range.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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