FX.co ★ XAU/USD, GOLD

Hello traders, Gold XAUUSD (H1) is trading above the day's opening level of 4513.00 and above the daily Pivot level of 4502.00. Key indicators show a bullish trend, with the price above the 72-period moving average trend line, where volume unloading usually occurs. A price increase above the level of 4560.00 will allow the price to move towards the level of 4581.00 or even higher to 4619.00. Below the level of 4560.00, the pair will head south towards the level of 4550.00 and may even go lower to 4513.00 and beyond. The pair is trading below the monthly Pivot level of 4987.58 (previous 4929.79), above the weekly Pivot level of 4398.00, and above the daily Pivot level, indicating a corrective sentiment for the pair. The current session's fork level is at 4560.00. The first resistance is at 4581.00, with the first support at 4550.00.