Technical Outlook for Gold

The daily chart of the XAU/USD asset shows that gold price has hit resistance at the 1815.20 mark. The gold price needs to overcome this level to attain the floor of the supply zone that rests between 1828.55 and 1840.55. Only if bulls surpass this zone can 1851.23 become available. Further targets lie at 1881.68 and 1900.95.

On the other hand, a pullback from this area targets the 1800 psychological support level, with the 1789.49 support price and 1763.30 serving as additional downside targets.