Gold Price Forecast: XAU/USD needs to defend $1,747 to keep upside potential intact Gold XAUUSD Technical Analysis
“The 14-day Relative Strength Index remains in the bullish territory, while the 21 and 100-Daily Moving Average bullish crossover keeps the upside potential intact.”“On the flip side, a breach of $1,747, the 23.6% Fibonacci Retracement level of the latest rally from the November 3 bottom at $1,617, will open floors for a test of the $1,720. At that level, the ascending 21DMA and 38.2% Fibo level converge. Further down, the horizontal 50DMA at $1,712 will come to the rescue of Gold buyers.
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