The XAU/USD chart currently has a bearish overall momentum, but in the short term, there’s potential for a bounce from the 1st support at 1977.14 (overlap support) and a move towards the 1st resistance at 1992.30 (pullback resistance). After reaching the 1st resistance, there could be a reversal towards the 2nd support at 1953.53 (overlap support), and the 2nd resistance at 2007.97 (overlap resistance) may act as a barrier to upward price movement.]
The material has been provided by InstaForex Company – www.instaforex.com
The XAU/USD chart currently has a bearish overall momentum, but in the short term, there’s potential for a bounce from the 1st support at 1977.14 (overlap support) and a move towards the 1st resistance at 1992.30 (pullback resistance). After reaching the 1st resistance, there could be a reversal towards the 2nd support at 1953.53 (overlap support), and the 2nd resistance at 2007.97 (overlap resistance) may act as a barrier to upward price movement.]
The material has been provided by InstaForex Company – www.instaforex.com
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