Gold Technical Analysis May 11, 2023
The Gold declined 0.21% against the USD on Wednesday and closed at 2030.00. Today in the European session, while the Gold technical Analysis May 11, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 2026.00, which is 0.20% lower than Yesterday’s close.
The Gold is expected to find support at 2022.00, and a fall-through could take it to the next support level of 2019.00. The pair is expected to find its first resistance at 2036.00, and a rise-through could take it to the next resistance level of 2047.00. Today’s expected trading range is between 2000.00 support, and 2052.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 2022.00
Support 2: 2019.00
Support 3: 2000.00
Important resistance levels:
Resistance 1: 2036.00
Resistance 2: 2047.00
Resistance 3: 2052.00