XAUUSD

Despite the US 10-year Treasury bond yield rising to 4.37%, the ounce of gold (2304) broke a record with the support of Fed Chairman Powell's statements that interest rates may be cut this year. Applications for unemployment benefits and speeches by FOMC members Barkin and Mester can be followed during the day due to their possible effects. When we evaluate the short-term gold ounce pricing technically, we are following the 2275 - 2290 area, which is currently supported by the 13 (2279) period exponential moving average. As long as the precious metal limits the downward demand in the 2275 - 2290 area, the positive trend may continue. If the upward demand continues, a movement area may form towards the 2300 and 2310 levels. In the alternative view, permanent pricing may be needed below the 2275 - 2290 area for the downward trend to become dominant. In this case, movements towards the 2265 and 2260 levels can be monitored. Support: 2290-2275 Resistance: 2300-2310