GOLD XAUUSD Chart Technical Outlook

GOLD XAUUSD Chart Technical Outlook fluctuates inside a range, fading dips favored

Gold trades at the mid-point of the recent range between $2,000 and $2,060. It correlates negatively with the USD index (DXY) and the US treasury yields. Both have been gaining on hawkish FED and strong US data recently, but the momentum is fading.

I expect prices to fluctuate within the range, with an immediate bearish bias. Fading the limits would be more appropriate.

Resistances: $2,050, $2,075
Supports: $2,015, $1,980

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