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XAU/USD Forecast – Sluggish business in Intra day, $1825 important resistance

XAU/USD Forecast – Sluggish business in Intra day, $1825 important resistance





From last couple of trading days Gold is trading with positive sentiment and holding above the level of $1800 on daily chart supported by 50 days EMA. The 15 and 30 exponential moving average bullish crossover is also playing out, following confirmation on a daily basis, which keeps gold buyers hopeful. If we look at the data for the last few months, we can see that Gold is holding at higher level and also forming a Bullish Ascending Triangle formation. The 14-Relative Strength Index (RSI) has turned slightly lower but continues to hold above the midline 50, suggesting that the upside potential remains intact.
If we talk on the contrary, there is no doubt that the $1800 level is acting as an important support level. On the intraday chart, we can see gold touching the level of $1825, while $1810 can consider as a good support level.