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XAUUSD Breaks Down Below Support

Posted On 02 Apr 2020
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Gold prices broke down below the support level of 1591.

This comes as price broke to the downside following the ascending wedge pattern. At the time of writing, prices are retesting the 1591 level once again.

If resistance forms here, then we expect a move to the downside. The lower support at 1534 level will be the likely support that will be tested.

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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