TECHNICAL ANALYSIS OF XAUUSD  (GOLD) 23 JAN 2023

XAUUSD (GOLD) last week was showing its strength and closed above its Fibonacci  retracement level which is $1900.  For upcoming week if it manages to hold above $1940 mark then we can see $1950 and $1980 this mark is 0.786 Fibonacci retracement level. Where down ward side it has again key support level of $ 1920 if it sustain below this mark then we can see next support zone of $1900 and $1880.  Ad US Dollar (USD) recovering some ground and elevated US Treasury bond yields, despite recessionary fears around the US economy.