FX.co ★ XAU/USD, GOLD

Hello traders! Gold XAU/USD (H1) is trading below the day's opening level of 4207.00 and below the daily Pivot level of 4213.00. Key indicators are showing a bearish trend, and the price is below the MA72 trend line, where volume unloading usually occurs. A price increase above the level of 4191.00 will allow the price to move towards the level of 4213.00 or even higher towards 4240.00. Below the level of 4191.00, the pair will head south towards the level of 4174.00 and may even go lower to 4157.00. The pair is trading above the monthly Pivot level of 4130.27 (previous 4068.09), above the weekly Pivot level of 4157.00, and below the daily Pivot level, indicating a corrective sentiment for the pair. The fork on this session is at the level of 4191.00. Resistance is at 4216.00, with the first support at 4174.00.