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FX.co ★ XAUUSD Day | Continue to resistance?

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Forex Analysis:::2023-10-16T03:45:57

XAUUSD Day | Continue to resistance?

XAUUSD Day | Continue to resistance?

XAU/USD displays bullish momentum after breaking a descending resistance line, suggesting a potential bullish move. The 1st support at 1889.42, a pullback support, is a strong support level. The 2nd support at 1808.81 reinforces this support zone. On the resistance side, the 1st resistance at 1982.09 is an overlap resistance, potentially hindering further upward movement. Confirmation at 1946.68, also an overlap resistance, adds to its significance as a resistance area.

Analyst InstaForex
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