Gold approaches $1,875 hurdle Technical analysis anyone? Gold passed resistance at $1,871.50 - has now backed off a little. Will see if it makes another run at $1,875.
(hour ago) “Gold stays firmer around monthly top, edges higher during three-day uptrend. XAU/USD dribbles around $1,870, after an uptick to refresh the one-month high during Friday’s initial Asian session, as the NFP-linked caution takes momentum away.
The XAUUSD pair is poised to extend its advance, according to the daily chart. Technical indicators have picked up momentum, maintaining their upward slopes within positive levels. Even further, the bright metal accelerated higher after meeting buyers around its 20 and 200 SMAs, both near the intraday low at $1,844.01.
Technical readings in the 4-hour chart also favor a bullish extension, particularly if the pair extends its gains beyond a bearish 200 SMA, now providing dynamic resistance at around $1,871.50. Meanwhile, the Momentum indicator heads firmly higher, well above its midline, while the RSI indicator approaches overbought conditions, all of which reflect persistent buying interest.”
Gold approaches $1,875 hurdle with eyes on US NFP
https://www.fxstreet.com/markets/commodities/metals/gold