Gold: Support Upper 1958

Basic face analysis:

On Friday (March 17), the European and American banking crisis boosted the demand for sheltering, and the expected expectations of the Federal Reserve's interest rate hikes greatly weakened. Dual favors promoted the continuous strengthening of gold prices. The largest single -day increase since March 23, 2020. Recently, banks such as the Bank of Silicon Valley and signature banks have been thunderstorms, which are generally considered to be caused by the continuous rate of interest rate hikes of the Federal Reserve, which has greatly weakened the market's expectations for the Federal Reserve ’s interest rate hikes. The market focuses on the Fed’ s interest rate resolution on Thursday.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4 -hour chart, the spot golden level has strengthened again. MACD continues to increase significantly on the zero axis, and the multi -heading trend is still dominant. The current support has been moved to 1958.

Resistance level: 1990 2000

Support bit: 1958 1940

Trading strategy: Bull above 1958, target 1990 2000

Essential strategy: Bull above 1958, target 1940 1920