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XAUUSD Price Forecast

XAUUSD Price Forecast

XAUUSD ( GOLD ) is looking weak on the chart . Last week it made a high of 1965 but not hold its upper and came down. Today it is showing negative biasness , gold remain risk-averse amid rising concerns over the covid resurgence in Asia, especially in China, underpinning the US dollar’s safe-haven appeal at gold’s expense. As observed on the daily chart, gold price failed to find acceptance above $1,961 on a daily closing basis. That level is the 38.2% Fibonacci Retracement (Fibo) level of the recent descent from 2022 highs of $2,070 to the March 16 lows of $1,895.. If gold holds its support level of 1930 then we can seen next level of 1910/1890 where as 1950 and 1970 is major resistance.