Gold Technical Analysis June 5, 2023
The Gold declined 1.45% against the USD on Friday and closed at 1948.20. Today in the European session, while the Gold technical Analysis June 5, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1940.00, which is 0.42% lower than Yesterday’s close.
The Gold is expected to find support at 1932.00, and a fall-through could take it to the next support level of 1925.00. The pair is expected to find its first resistance at 1953.00, and a rise-through could take it to the next resistance level of 1960.00. Today’s expected trading range is between 1900.00 support, and 1972.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1932.00
Support 2: 1925.00
Support 3: 1900.00
Important resistance levels:
Resistance 1: 1953.00
Resistance 2: 1960.00
Resistance 3: 1972.00