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Gold: Watch under 1925

2023-06-23
658
Basic face analysis:

On Thursday (June 22), the Federal Reserve Chairman Powell attended the semi -annual monetary policy report hearing of Congress for two consecutive days, and repeatedly emphasized that there are still two interest rate hikes during the year. The debt yield rebounded sharply, spot gold fell nearly 1%, and fell below the 1920 US $ 1920 mark.

Spot Gold XAUSD four -hour chart



Technical analysis:

Looking at the 4-hour chart, the gold fell below the previous low 1925 US dollars, the decline further expanded. The MACD volume could maintain the volume under the zero axis. The short trend continued. 1925 turned to resistance, and supported 1900-1875 below.

Resistance position: 1925 1940

Support bit: 1900 1875

Trading strategy: Below 1925, the target 1900 1875
Extracting strategy: Bull above 1925, target 1940 1955

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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