FX.co ★ Analysis of Gold for April 17, 2023 - Potential for the upside continuation

Technical analysis:

Gold has been trading downside in the background but I found rejection of the support at $1.996 and potential for the upside continuation.

Due to the rejection of the support zone in the background and the upside trend, I see potential for the further upside movement towards upper references.

Upside objective is set at the prie of $2.040

MACD oscillator is showing bullish reading and potential for further rally..

Support is set at the price of $1.996