FX.co ★ XAU/USD, GOLD

Hello traders, Gold XAUUSD (H4) is trading above the day's opening level of 4597.00 and above the daily Pivot level of 4597.00. The main indicators show a bullish trend, and the price is above the 72-period moving average trend line, where volume unloading usually occurs. A price increase above the level of 4630.00 will allow the price to move towards the level of 4640.00 or even higher towards the level of 4650.00. Below the level of 4630.00, the pair will head south towards the level of 4620.00 and may even go lower to 4597.00. The pair is trading above the monthly Pivot level of 4345.11 (previous 4130.27), above the weekly Pivot level of 4457.60, and above the daily Pivot level, indicating a bullish sentiment for the pair. The key level for this session is 4630.00. The first resistance is at 4640.00, and the first support is at 4620.00.