The XAU/USD chart shows bearish momentum, hinting at a possible downtrend. Price might continue lower towards the 1st support at 1901.14, a significant level coinciding with overlap support, the 78.60% Fibonacci Retracement, and the 78.60% Fibonacci Projection, forming a strong support zone. Additionally, the 2nd support at 1889.19 is a multi-swing low support, reinforcing its support role. Resistance includes the 1st resistance at 1913.49 and the 2nd resistance at 1931.97, both overlapping resistances.
