The XAU/USD pair is displaying a bullish trend, potentially continuing towards the 1st resistance level following a breakthrough above a descending resistance line. The 1st support level at 1952.62 acts as a pullback support, offering considerable price stability, while the 2nd support level at 1931.62, an overlap support, could protect against further price drops. On the other hand, the price might aim for the 1st resistance at 1966.68, a multi-swing high resistance. If surpassed, the next target could be the 2nd resistance at 1980.74, another multi-swing high resistance that aligns with a 50% Fibonacci retracement, further fortifying its resistance potential.
