July 6 2022
XAUUSD Technical Analysis
Gold like everything else yesterday came under heavy selling pressure from a surging USD.
A new low for 2022 at 1763.80 was recorded, breaking support at 1786/1784 on the way down. It looks likely we will see a correction to this sharp down move.
Immediate resistance is seen at 1776.00, and then stronger resistance is going to be found at 1784/1786.00 which really needs to be broken to relieve the downside pressure.
First support is at 1764/1762 which if broken would allow another drop to 1752/1750.