AAATrade's Daily Technical Analysis Of XAUUSD - Tuesday, Dec. 6

By Staff of AAATrade.com

Dec 6, 2022 at 7:13 AM EST

Today we could expect gold to be traded even lower reaching its support level at around $1750 and based on the reaction at that level, it might go back towards its resistance level at around $1800 or further fall towards $1700-1730.

Spotlight on XAUUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.

XAUUSD

Looking at XAUUSD’s chart, we can see that the metal has been in an upward trend lately but after reaching a price above $1800, the correction, which is assisted by the announced US data that got the USD stronger, started, and the price dropped to the current level of around $1770. Today we could expect the commodity to be traded even lower reaching its support level at around $1750 and based on the reaction at that level, it might bounce back towards its resistance level at around $1800 or further fall towards its next support level at around $1700-1730.

AAATrade's Daily Technical Analysis of XAUUSD - 06/12/2022

AAATrade Market Research Department.

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