Gold XAUUSD Chart Technical Outlook advances on falling USD and Yields, bulls target $2,170
Gold’s broad bias is bullish. It has trended higher recently on USD and Treasury yields falling after not hawkish enough Powell’s testimony yesterday. The yellow metal prints the fifth wave of the broad bullish move with a long-term projection of $2,230. Prices are stretched after six consecutive daily gains. There is no indication that the rally is over. Dips could be bought. Supports are located at $2,125 and $2,100. Resistances are $2,170 and $2,200.
