XAUUSD

With the support of the US 10-year Treasury bond yield falling to 4.57%, ounce gold has shown some recovery. The precious metal, which opened the day at 2365, is trading around 2374 while the analysis is being prepared. Applications for unemployment benefits, the Philadelphia Fed manufacturing index and existing home sales can be monitored during the day due to their possible effects. When we evaluate the short-term ounce gold pricing technically, we are following the 2355 - 2375 region, which is currently supported by the 13 (2375) and 34 (2359) period exponential moving average. As the precious metal forms within the 2355 - 2375 region, the decision-making phase scenario may be valid. Permanent pricing above the 2375 level may be needed for the positive expectation to be reinforced. In possible recoveries, 2390 and 2400 levels may come to the agenda. In order for the negative expectation to come to the fore, it may be necessary to remain below the level of 2355. In possible declines, the levels of 2340 and 2330 may be encountered. Support: 2365 - 2355 Resistance: 2390 - 2400