Gold Outlook: Price Even broke $1,810 Level to Move into a Positive Zone

Gold price started a fresh increase above the $1,800 resistance zone against the US Dollar. The price even broke the $1,810 level to move into a positive zone.

There was a spike above the $1,820 level and the price settled above the 50 hourly simple moving average. A high was formed near $1,823 on FXOpen and the price is now correcting lower.

On the downside, there is a decent support forming near the $1,810 level. The main support is now near the $1,805 level, below which the price could revisit $1,800. Any more losses could lead the price to $1,780.

On the upside, an immediate resistance is near the $1,820 level. The main resistance is near the $1,825 level. A clear break above the $1,825 resistance could push the price further higher. The next main resistance could be $1,845.

August 31, 2021 at 12:21AM
FXOpen
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