Gold: Support Upper 2005

Basic face analysis:

On Tuesday (April 4), the monthly rate of the factory orders in the United States recorded -0.7%, which was lower than the expected -0.5%and -1.6%of the previous value. At the same time, the vacant data of Jolts position in the United States in February was also announced for the first time since May 2021 for the first time. The bursting economic data or weakening the necessity of the Federal Reserve's further interest rate hike. The US finger fell to a two -month low. Rising 1.81%. Looking forward to the market outlook, the rise in gold prices has become a set. Before the fundamental environment has changed, the rise is still the main theme.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4-hour chart, the spot gold broke the new high within 2005, and at the same time, the MACD volume was further amplified, and the market entered a strong multi-stage stage. The current resistance level 2005 has been converted into support. 2060.

Resistance position: 2040 2060

Support bit: 1980 1960

Trading strategy: Bull above 2005, target 2040 2060

Alternative strategy: Below below 2005, target 1980 1960