XAUUSD Technical Analysis – June 3, 2021

Gold rose on Wednesday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 1908.150, and multiple resistance levels can be seen above which may prevent the price rising further.

  • Resistance level 1: 1911.820
  • Resistance level 2: 1916.370
  • Resistance level 3: 1921.000

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 1903.050
  • Support level 2: 1900.740
  • Support level 3: 1895.260

The United States will announce its non-agricultural employment report, higher data will indicate favorable to the US dollar, so it is negative for the Gold, and vice versa.

Looking at the current price trend and economic development it may be a good trading choice to buy the pair near the current level.