The XAU/USD pair closed the fourth straight day in the negative territory and preserved its bullish momentum during the first half of the day on Tuesday.
In case Wall Street’s main indexes suffer heavy losses after the opening bell, the USD could continue to outperform its rivals and force XAU/USD to extend its downward correction.
On the flip side, the 20-day SMA at $1,790 is the first technical support.
Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.
FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.
The consolidation could be linked to the US dollar pullback from the highest levels since November 2020.
Coinbase has gotten the green light to invest $500 million in leading cryptocurrencies to its balance sheet.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice.