XAU/USD to see another leg higher once above hurdle at $2,070/$2,075 – SocGen

Gold has regained upward momentum. Strategists at Société Générale analyze the yellow metal’s technical outlook.

Gold poised to challenge previous highs at $2,070/$2,075


منبع: https://www.fxstreet.com/news/gold-price-forecast-xau-usd-to-see-another-leg-higher-once-above-hurdle-at-2-070-2-075-socgen-202310301537

Gold looks poised to head higher towards the graphical levels of $2,070/$2075 representing highs of 2020 and 2022 and more importantly the upper part of the large sideways range which has been in force for more than three years.  

The 200-DMA near $1,933 is near term support.

Once Gold overcomes the hurdle at $2,070/$2,075, next leg of uptrend is expected to materialize. Further objectives are located at projections of $2,180 and $2,240.