ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pressure May Increase in XAUUSD
The increase in missile attacks between Russia and Ukraine gave some support to the ounce gold pricing with the demand for safe harbor. However, in recent days, with the FED Officials maintaining their hawkish stance and the nonfarm payrolls (NFP) data announced by the US Department of Labor exceeding the expectations of the markets by 263 thousand people, the possibility that the FED will continue its aggressive tightening path has strengthened the dollar considerably. With the effects of these, the rise in US Treasury yields continues to support the dollar. As a matter of fact, the US 10-year bond yields tested 4.00% levels again. When analyzed technically, the yellow metal, which is seen to continue to defend the descending channel by breaking the minor uptrend, may take the support of 1647 on the agenda, which will be the lowest level of 2 weeks, if it falls below the 1658 level permanently. In possible upward movements, 1679 and 1690 resistances may enter our radar.
