fxstreet.com 12 Feb, 2021 06:30 am

XAU/USD eyes key $1803 support amid US dollar strength – Confluence Detector

XAU/USD eyes key $1803 support amid US dollar strength – Confluence Detector
Gold (XAU/USD) remains under pressure while below the $1850 level, with the $1800 support back in sight amid a lack of new developments on the US fisc

The pivot point one-month S1 at $1778 would be the last line of defense for the XAU bulls.The next bullish target awaits at $1858, the intersection of the SMA200 one-day and pivot point one-day R2.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.

The rebound in the US Treasury yields and surge in the platinum group metals (PGM) further weigh on gold prices.Gold Price Chart: Key resistances and supports The Technical Confluences Indicator shows that gold could meet initial support at $1818, which is the Fibonacci 38.

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