- XAU / USD experiences strong bounce and has the best day in weeks.
- Quote returns above $ 1800 and eases downward pressures.
After falling during Several days in a row and hitting monthly lows at $ 1,764 an ounce on Monday, gold is rising strongly on Tuesday and climbed to $ 1,811, the highest level since Tuesday.
The metal is being helped by a weak dollar, some optimism in the markets and profit taking, after the crash that followed the break of $ 1,850.
The XAU / USD remains in the zone of the highs. The strong advance alleviates downward pressures. If it persists at these levels, it could be estimated that it has established a floor, at least temporarily, which can be followed by a period of consolidation or higher rises. The next strong resistance is at $ 1818 and then in the $ 1850 region.
A return below $ 1800 would put bearish pressures back on the table. The next support is at $ 1785 and then in the zone of recent lows at $ 1765.
Technical levels
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