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200-Day MA Proves Hard To Break For XAUUSD

Posted On 18 Mar 2020
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The precious metal is trading right near the 200-day MA for the second day in a row.

However, buyers are rejecting attempts to push the precious metal lower.

Depending on how prices close, we anticipate a rebound on the horizon.

To the upside, the resistance area near 1534 will be coming under first contact.

A breakout above this level will accelerate the gains to the 1569 handle.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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