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Gold lower as the dollar seems the market’s safe haven of choice – GOLD Market Outlook – 15/06/2020

SquaredFinancial

King dollar takes back center stage as Chinese recovery shows vulnerability after COVID-19 cases re-emerged in Beijing over the weekend while equities extend their losses in early trading today in a clear risk-off session. The dollar seems to be the market’s risk haven of choice as the yellow metal trades below our resistance at $1730 and below the 20 and 50 period SMA with $1717.50 and the 200 period SMA as the closest support targets.

Support: 1717.5 / 1708.5
Resistance: 1730 / 1738

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-lower-as-the-dollar-seems-the-markets-safe-haven-of-choice-gold-market-outlook-15-06-2020
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