XAUUSD

News from China and Israel's military actions in Syria contribute to the rise of gold by increasing the perception of geopolitical risk. While this supports the safe-haven demand, markets are closely watching the upcoming CPI data from the US. The US inflation data could influence the Federal Reserve's monetary policy decisions. Especially within the framework of Fed's possible rate cut expectations, the announced data may change investors' positions on gold.

From a technical perspective, gold continues to trade above support levels of 2685, 2676, and 2670. The price remaining above these levels keeps the upward expectation alive. In upward movements, resistance levels of 2693 and 2700 can be monitored. The RSI indicator is at the 45 level and the market presents a neutral outlook. The pair, experiencing a 0.46% decrease compared to the previous day, must surpass the identified resistance levels to maintain its upward momentum. Otherwise, the likelihood of the price testing the support levels may increase.