- Outlook remains bullish for gold, even after failing to break $ 1,875.
- XAU / USD remained stable despite further declines in the dollar.
Gold is rising modestly on Tuesday, having moved away from its Asian session highs of $ 1,873, the highest level since late January.. The price is around $ 1868, still with a bullish but stable bias.
In the last hours, the XAU / USD remained in a narrow range between $ 1867 and $ 1871, despite the strong fall of the dollar in the market. Just as the rise in metals occurred at a time when the dollar did not register great changes, in the last hours, it has been the other way around.
The dollar is at a low against most currencies. The dollar index (DXY) loses almost 0.45%, trading at 89.75, the lowest intraday level since February 25. The decline in the dollar occurs despite the stability in the bond market and accompanying a modest rise in the equity markets.
From a technical point of view, gold remains firm above the technical zone of $ 1,866, but cannot exceed $ 1,875. This last area is key, and a break in it could trigger more raises. In $ 1890 the possible next resistance is located.
Technical levels
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