Gold Price Prediction: More falls are Expected in XAUUSD

According to FXStreet’s Dhwani Mehta, "After a three day turmoil, gold prices are expected to recover to their normal state." Meanwhile, the XAUUSD values are exposed to $1880.

April 26, 2022 - 05:24 PM 436 views

Gold Price Prediction: More falls are Expected in XAUUSD

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© Gold Price Prediction: More falls are Expected in XAUUSD

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According to FXStreet’s Dhwani Mehta, "After a three day turmoil, gold prices are expected to recover to their normal state." Meanwhile, the XAUUSD values are exposed to $1880.

The gold recovery values are limited to being near $1935 in the midst of the previous day's highs (50 and 21 DMAs).A retest of the $1950 psychological value is unavoidable if the XAU values are still firm against the bearish odds.

If the selling spiral continues, the Bears will attempt to break the previous day's low of $1,892 once more. Before the ascending 100-DMA support is exposed, the February 24 low of $1,878 will be the last line of defense for gold bulls.

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