XAUUSD

Despite the US 10-year Treasury bond yield exceeding 4.6%, Israel's statements that it would escalate geopolitical risks in the Middle East allowed the ounce of gold to move upwards. During the day, construction permits and industrial production data as well as Fed Chair Powell's speech can be monitored due to their possible effects. When we evaluate short-term ounce gold pricing technically, we are following the 2355 - 2365 region, which is currently supported by the 13 (2368) and 34 (2351) period exponential moving averages. As long as the precious metal moves above the 2355 - 2365 region, positive expectations may become dominant. If the upward trend continues, the 2390 and 2400 levels may come to the agenda. In the alternative case, in order for the negative expectation to come to the fore, permanence below the 2355 - 2365 region may be required. In this case, the 2340 and 2330 levels may be encountered. At this stage, the reaction of the 2330 level can be monitored in order for the pullback trend to continue. Support: 2365 - 2355 Resistance: 2390 - 2400