ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD Continues to Remain Under Pressure of Treasury Returns
The moderate decline of the dollar in international markets supported ounce gold somewhat. However, while it is considered with certainty that the US Federal Reserve (FED) will raise interest rates by another 75 basis points at its November meeting, US 10-years, reaching psychological 4%, make it difficult for ounce gold to find demand. Technically, ounce gold continues to defend the descending channel movement. The end of 1644 support with declines could pave the way for losses until 1630. On the upside attempts, the 1671 – 1685 range is a strong resistance zone.
