Free Trial
RATINGS

Affirmations Across The Board On Friday

USDCAD TECHS

Heading South

US TSYS

Rates Off Highs Into Month End

AUDUSD TECHS

Holding On To Its Gains

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Breaks To Fresh Trend Highs

GOLD TECHS
  • RES 4: $1855.5 - High Feb 10
  • RES 3: $1851.5 - 50.0% retracement of the Jan 6 - Mar 8 sell-off
  • RES 2: $1830.8 - High Feb 12
  • RES 1: $1818.1 - 50.0% retracement of the Jan 6 - Mar 8 sell-off
  • PRICE: $1813.8 @ 15:04 BST May 6
  • SUP 1: 1772.2 20-day EMA
  • SUP 2: $1756.2 - Low Apr 29 and key near-term support
  • SUP 3: $1734.5 - Low Apr 15
  • SUP 4: 1721.4 - Low Apr 5

Gold has rallied today and cleared resistance at $1797.9, Apr 22 high. Today's gains confirm a resumption of the uptrend that started early August where a reversal pattern in the shape of a double bottom began. This pattern was confirmed on Apr 8. The move higher paves the way for a climb towards $1818.1, the 50.0% retracement of the Jan 6 - Mar 8 sell-off. On the downside, ket support has been defined at $1756.2.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.