The XAU/USD chart currently shows a neutral overall momentum, indicating a lack of a strong directional trend. In this scenario, the price is expected to fluctuate between the 1st support at 1974.67 (overlap support) and the 1st resistance at 1992.18 (overlap resistance). These levels are significant, with the support potentially attracting buyers at 1974.67 and the resistance posing a hurdle for further price gains. The 2nd support at 1962.70 (overlap support) and the 2nd resistance at 2006.11 (multi-swing high resistance) further reinforce these potential support and resistance zones.
The material has been provided by InstaForex Company – www.instaforex.com
The XAU/USD chart currently shows a neutral overall momentum, indicating a lack of a strong directional trend. In this scenario, the price is expected to fluctuate between the 1st support at 1974.67 (overlap support) and the 1st resistance at 1992.18 (overlap resistance). These levels are significant, with the support potentially attracting buyers at 1974.67 and the resistance posing a hurdle for further price gains. The 2nd support at 1962.70 (overlap support) and the 2nd resistance at 2006.11 (multi-swing high resistance) further reinforce these potential support and resistance zones.
The material has been provided by InstaForex Company – www.instaforex.com
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