because of the fact that the the US Federal Reserve will start unwinding one pandemic-facility program boosted the dollar amid further tightening coming in the near-term, Gold benefited from the broad dollar’s weakness and settled at $1,890 a troy ounce. XAU/USD has staged a recovery in response to weak Nonfarm Payrolls figures. The Confluence Detector shows that gold faces significant resistance only at $1,914. It has some resistance at $1,897, which is the convergence of the Simple Moving Average 50-4h, the Fibonacci 38.2% one-week and the SMA 5-one-day. The upside target is $1,914/6 , which is where the previous monthly high and the previous weekly high converge.
Some support is at $1,888, a level of confluence between the Fibonacci 61.8% one week and the SMA 50-1h.
Further down, the next cushion is $1,879, which is the Fibonacci 23.6% one-month and the Pivot Point one-week Support 1 hit the price.