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Technical Analysis
Friday 24th March 2023: Technical Outlook and Review

The XAU/USD chart is currently showing a bearish momentum. Price could potentially make a bearish reaction off the first resistance level at 2007 and drop towards the first support level at 1957. This support level is an overlap support and has held prices up in the past.

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Recent
Thursday 23rd March 2023:  Fed Hike and Yellen’s Comments on Deposit Insurance Trigger Sell-off in Asian Markets

Global Markets: News & Data: Markets Update: Asian markets skidded on […]

By IC Markets

Technical Analysis
Thursday 23rd March 2023: Technical Outlook and Review

The XAU/USD chart shows a bullish momentum, and price could potentially continue to rise towards the 1st resistance level at 2007.00, which is a swing high resistance level. The 1st support level at 1957.00 is a strong overlap support level, which could provide a bounce if price were to drop.

By IC Markets

Recent
Wednesday 22nd March 2023: Higher interest rates loom as Asian stocks rally

Global Markets: News & Data: Markets Update: Asian stocks rose on […]

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Technical Analysis
Wednesday 22nd March 2023: Technical Outlook and Review

Gold could potentially make a bullish bounce off the first support level at $1933 and head towards the first resistance level at $1957. The $1933 level is an overlap support, coinciding with the 38.20% Fibonacci retracement, which could act as a strong support level.

By IC Markets

Recent
Tuesday 21st March 2023:  Asian Stocks Rise Ahead of Fed’s Next Interest Rate Decision

Global Markets: News & Data: Markets Update: Asian stock markets followed […]

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Technical Analysis
Tuesday 21st March 2023: Technical Outlook and Review

The XAU/USD chart shows a bearish overall momentum, but price could potentially rise towards the 1st resistance in the short term before reversing off it and dropping towards the 1st support. The 1st support level is at 1957.28, which is a pullback support level with a 23.60% Fibonacci retracement.

By IC Markets

Recent
Monday 20th March 2023:  UBS-Credit Suisse deal fails to lift Asian markets amid contagion fears

 Asian markets fell on Monday despite a weekend rescue deal for Credit Suisse and a coordinated effort by central banks to ease liquidity strains in the global banking system. Investors remained wary of the potential fallout from the collapse of Silicon Valley Bank, which has triggered a confidence crisis in the financial sector.

By IC Markets

Technical Analysis
Monday 20th March 2023: Technical Outlook and Review

Gold prices have been under bearish pressure for quite some time now, and the overall momentum of the XAU/USD chart remains bearish. There are several factors contributing to this bearishness, such as the downtrend being reinforced by a major descending trend line.

By IC Markets