Gold Technical Overview
XAU/USD has been trading in a tight range between $1,920 and $1,960 over the past two weeks. The $1,920 level has acted as strong support, tested three times without breaking.
Key Levels to Watch
Support: $1,920 and $1,890. Resistance: $1,960 and $1,985. A break above $1,985 could open the path toward the $2,000 psychological level.
Fundamental Drivers
US CPI data due this Friday could be the catalyst. Higher-than-expected inflation typically supports gold prices as a hedge. Lower CPI may put downward pressure as it reduces safe-haven demand.
Trading Outlook
Bias remains neutral to bullish above $1,920. Watch for confirmation candles before entering positions.