Gold Technical Analysis August 16, 2022
The Gold declined 1.27% against the USD on Monday and closed at 1778.77. Today in the European session, while the Gold technical Analysis August 16, 2022, is preparing at 5:15 GMT, the XAU/USD trading at 1780.50, which is 0.10% higher than Yesterday’s close.
The Gold is expected to find support at 1773.00, and a fall through could take it to the next support level of 1771.00. The pair is expected to find its first resistance at 1785.00, and a rise through could take it to the next resistance level of 1796.00. Today’s expected trading range is between 1765.00, support, and 1801.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1773.00
Support 2: 1771:00
Support 3: 1765:00
Important resistance levels:
Resistance 1: 1785.00
Resistance 2: 1796.00
Resistance 3: 1801.00