FX.co ★ XAU/USD, GOLD

Gold XAUUSD (H1) is trading below the daily open level of 4425.00 and near the daily Pivot level of 4403.00. The main indicators are pointing north and the price is above the MA72 trend line, where volume unloading usually occurs. A rise in price above the 4403.00 level will allow the price to move to the 4436.00 level or even to the 4450.00 level and higher. Below the 4403.00 level, the pair will go south to the 4388.00 level and may go even lower to 4378.00 and below. The pair is trading above the monthly Pivot level of 4069.60 (previous 4166.28), above the weekly Pivot level of 4378.68 and near the daily Pivot level, which tells us about a bullish (north) sentiment for the pair. The fork at this hour of the session is the daily Pivot level 4403.00. The first resistance is 4436.00, the first support is 4388.00.