XAU/USD is edging lower on Monday but staying afloat above $1,850. In the view of FXStreet’s Dhwani Mehta, a test of $1,900 remains on the cards.
A fresh upswing could be in the making
“Gold price remains on track for the further upside on a sustained break above the June 16 highs of $1,869. The next significant resistance is seen at the June 14 tops of $1,878, followed by the $1,900 psychological level.”
“On the downside, the $1,850 demand area will get tested initially, below which Friday’s low of $1,845 will be the next stop for gold sellers. The previous critical resistance now support at $1,834 will hold the key for gold bulls.”
This article was originally published by Fxstreet.com.Read the original article here.
