XAU/USD maintains a bullish momentum with the primary support at 1962.37, coinciding with the 127.20% Fibonacci Extension level. 2nd support at 1946.66, aligned with the 161.80% Fibonacci Extension, further bolsters this level.
Conversely, the initial resistance at 1992.33 is an overlap resistance where selling pressure may emerge. Additionally, the 2nd resistance at 2006.32 presents another hurdle. An intermediate resistance at 1977.03 adds to potential barriers on the path to the 1st resistance. The overall outlook anticipates a bullish continuation, targeting the initial resistance level.
