XAUUSD

With the support of the US 10-year Treasury bond interest rate falling by 4.30% to 4.23%, ounce gold has shown some recovery in the short term. When we technically evaluate the short-term ounce gold pricing, we are following the 2003-2012 region, which is currently supported by the 34 (2010) period exponential moving average. As long as the precious metal is traded below the 2003-2012 region, negative expectations may come to the fore. If the downward trend continues, there may be a movement area towards the 1985 and 1977 levels. At this stage, the reaction of the 1973-1977 range can be monitored in terms of continuing downward pricing. In the alternative case, it may be necessary to see persistence above the 2003-2012 region for the positive trend to come to the fore. In this case, the 2021 and 2030 levels may be encountered in possible increases. Support: 1985-1977 Resistance: 2003-2012