XAUUSD

Following the US growth rate falling below expectations at 3.2%, the ounce of gold has shown some recovery in the short term due to the decline in the 10-year Treasury bond yield to 4.27%. When we technically evaluate the short-term gold ounce pricing, we are following the 2030 level, which is currently supported by the 34 (2029) period exponential moving average. As long as the precious metal suppresses the desire to retreat at the 2030 level, the desire to rise may remain at the forefront. If the upward trend continues, there may be a movement area towards the 2040 and 2052 levels. In the meantime, the reaction of the falling trend line (2047) can be monitored in order for the positive expectation to continue. In the alternative case, in order for the negative expectation to come to the fore, permanence below the 2030 level may be required. In such a case, the 2021 and 2012 levels may be encountered in the possible declines. Support: 2021-2012 Resistance: 2040-2052