XAUUSD

The high tension in the Middle East continues to play a decisive role in the pricing of gold, while the rise in the Dollar index creates pressure on the precious metal. Following recent record updates near the 2760 level, gold has retreated to 2725 due to the wave of sales. The US unemployment claims and preliminary services and manufacturing PMI data to be announced today could be important for gold's direction. Persistent pricing above the 2730 resistance level could strengthen the positive outlook for gold fluctuating between 2710 and 2730. On the other hand, falling below the 2710 level could highlight a negative trend.

From a technical perspective, gold is trading at 2736 on the daily chart. In the chart, 2730, 2720, and 2710 levels stand out as support, while 2740, 2750, and 2760 levels are resistance. The RSI indicator is at 44, showing a slightly negative outlook. There is a 0.37% drop compared to the previous day's close. Unless staying below the 2710 level is sustained, upward recoveries may be observed. However, the stance of the 2700 level, supported by the 55-period exponential moving average, is crucial for the continuity of downward movements.