Gold Price Forecast: XAU/USD to make headway for another run higher on daily closing above 21-DMA

FXStreet Insights Team FXStreet

Gold price is regaining upside traction. Will XAU/USD buyers recapture critical 21-Daily Moving Average (DMA) resistance? FXStreet’s Dhwani Mehta analyzes the pair’s technical outlook.

Gold to come under intense selling pressure on failure to surpass 21-DMA

“Gold bulls yearn for a daily candlestick closing above 21-DMA at $1,844 to add extra legs to the ongoing recovery in the bright metal.”

“Fresh buying opportunities will be created above the 21-DMA hurdle, fuelling a rally toward the mildly bullish 50-DMA at $1,858.”

“Gold price could come under intense selling pressure on failure to surpass 21-DMA. The previous day’s low of $1,830 will be the first in sight for Gold sellers, below which a test of the $1,820 round level will be inevitable.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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