FX.co ★ XAU/USD, GOLD

Gold XAUUSD (H1) is trading below the day's opening level of 4012.00 and below the daily Pivot level of 4024.00. Key indicators show a bearish trend and the price is below the MA72 trend line, where volume unloading usually occurs. A price increase above the level of 3995.00 will allow the price to move towards the level of 4018.00 or even towards 4024.00 and higher. Below the level of 3995.00, the pair will head south towards the level of 3962.00 and may even go lower to 3931.00 and below. The pair is trading below the monthly Pivot level of 4559.91 (previous 4673.94 and pre-previous 4727.56), below the weekly Pivot level of 4218.00, and below the daily Pivot level, indicating a bearish sentiment for the pair. The current session's fork level is 3995.00. The first resistance is at 4018.00, the first support at 3962.00.