The XAU/USD (Gold/US Dollar) chart currently has bullish momentum, indicating a potential move towards the 1st resistance level at 1992.51. The 1st support at 1962.58 is significant, aligning with an overlap support, making it a strong support level. Additionally, the 2nd support at 1946.96 is also an overlap support, reinforcing the potential support zone. On the resistance side, the 1st resistance at 1992.51 is a multi-swing high resistance, posing a significant obstacle to upward price movement. The 2nd resistance at 2003.10 is identified as a swing high resistance, marking another potential level of resistance. An intermediate support at 1977.67 may act as a temporary resting point for the price during its bullish trajectory.
