Gold Still Strong at Psychological Level
Daily Analysis of XAUUSD
GDP Exceeds Expectations
The release of USD GDP data yesterday, which recorded a 3.3% growth, indicates that the USD has strengthened by about 2% early this year. The data suggests that the Federal Reserve will not rush to lower interest rates.
Strong Holding Above 2,000
Correction has occurred again due to the impact of dollar strengthening. Prices are still unable to break through the psychological level of 2,000. There is a chance of rebound from the current support before heading back down.
Conclusion: WEAK GOLD
Resistance
- R1: 2032.00
- R2: 2028.00
- R3: 2041.70
- R4: 2058.30
Support
- S1: 2022.00
- S2: 2032.00
- S3: 2011.80
- S4: 2005.00
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