Technical Analysis:
Current Price Range:
The price is in a local cumulative flat between 1930.6 and 1952.86.
Expectation:
Anticipating the price to rise to the resistance level of 1960-1990
Support and Resistance Levels:
Resistance Levels (R):
- R1: 1940
- R2: 1970
- R3: 1990
- R4: 2015
Support Levels (S):
- S1: 1922
- S2: 1908
- S3: 1890
- S4: 1875
Conclusion:
Given the information provided, it appears for a potential upward movement in the XAUUSD price to reach the resistance level of 1952.86. Traders should monitor the price action within the current range and pay attention to any significant developments or catalysts that could impact the direction of gold prices. As always, it’s crucial to stay informed about market conditions and employ effective risk management strategies.
