XAUUSD Chart Technical Outlook awaits dovish clues from the U.S. to trend higher
Gold (XAU/USD) broad bias remains bullish. The better-than-expected inflation data from the US yesterday pushed USD and Treasury yields higher but failed to stay at high ground. Markets are positioned to receive dovish data, awaiting clues from today’s Producer Price Index and Fed’s Kashkari speech.
The broad bias remains bullish. Prices are accumulating ahead of an expected bullish cycle. A break above 2,050 will confirm the bullish momentum. I expect dips to find buyers.
Resistances: 2,050, 2,080
Supports: 2,020, 1,980
