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08.09.2023 05:48 AM
XAUUSD H4 | Reacting off 1st Resistance?

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The XAU/USD chart currently has a bullish momentum, indicating a potential upward trend. There's a likelihood of continued bullish movement towards the first resistance. The first support at 1913.49 is significant, aligning with the 61.80% Fibonacci Retracement. The second support at 1901.55 is also noteworthy, aligning with the 78.60% Fibonacci Retracement. On the resistance side, the first resistance at 1931.97 aligns with the 38.20% Fibonacci Retracement, and the second resistance at 1943.88 aligns with the 78.60% Fibonacci Retracement.

Dean Leo,
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