Technical Analysis
XAUUSD have big potential to buy around 2333.7. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
U.S. Treasury yields were higher on Monday as investors awaited key economic data due this week and digested the latest inflation insights.
The yield on the 10-year Treasury
added 12.8 basis points at 4.471%. The 2-year Treasury
yield advanced 3.8 basis points to 4.758%.
Yields and prices move in opposite directions and one basis point equals 0.01%.