The XAU/USD chart is currently indicating the potential for a bearish continuation towards the 1st support level.
Resistance Level:
The 1st resistance level at 2083.85 is influenced by "Multi-swing high resistance," signifying a significant barrier to further upward price movement.
Support Levels:
The 1st support level at 2008.84 is identified as "Pullback support," suggesting a crucial area where buying interest may emerge, potentially facilitating a bounce. Additionally, the 2nd support level at 1978.34 is supported by "An Overlap support," reinforcing its role as a substantial support zone.
