XAUUSD: Strategy and Analysis for June 12

Gold technical analysis
Daily chart resistance: 3400-3420, support: 3310
Four-hour chart resistance: 3400, support: 3325
One-hour chart resistance: 3385, support: 3340.

Spot gold soared after the release of CPI as investors responded to optimistic inflation data. Trump's interest rate cut speech restored the confidence of gold bulls, but with the strong pressure of 3380 above, the market fell again, and the frequency of gold long and short switching accelerated, verifying the daily level of shock. From a technical point of view, although the daily line has not risen continuously, there is a very obvious feature of the daily cycle, that is, the middle track of Bollinger has not broken, and multiple attempts have not changed this technical point. This is the support point for the short-term retracement and the defense point for the long-term rise. If the NY market stands firm at 3380, it is expected to rise to the 3410 US dollar line. The short-term key support position below is around 3345, and it will be short-term bearish only after it falls below. Personally, I suggest that you give priority to buying in the NY market.

Buy: 3380near SL:3375

Buy: 3345near SL:3340