The XAU/USD chart is currently displaying a neutral momentum and the price could potentially fluctuate between the 1st support and the 1st resistance.
Resistance Levels:
The 1st resistance at 2,070.47 is categorized as a "Pullback Resistance", indicating its potential to deter upward price movements. Additionally, the 2nd resistance at 2,088.76 is also categorized as a "Pullback Resistance", emphasizing its role as a substantial barrier to further advances.
Support Levels:
On the support side, the 1st support at 2,048.76 is recognized as an "Overlap Support". This level suggests a zone where buying interest may emerge, potentially providing support to the price. Furthermore, the 2nd support at 2,018.67 is also characterized by an "Overlap Support", reinforcing its significance as a substantial support zone.
