XAUUSD Still Trying to Break Key Support

XAUUSD Analysis: The strengthening of the US dollar following the release of influential inflation data has affected the movement of XAUUSD. XAUUSD is currently moving downwards towards the support area of 1905.58 – 1900.00.

Today’s Trading Strategy:

There is a potential opportunity to sell XAUUSD today if it breaks below the 1905.58 – 1900.00 support area, with the potential for a decline towards the range of 1890.27 – 1887.77.

Alternatives:

A breakthrough above the resistance area of 1913.75 – 1917.61 could potentially push XAUUSD higher to the range of 1929.13 – 1931.25.

Resistance Levels:

• R1: 1917.61
• R2: 1931.25
• R3: 1946.66

Support Levels:

• S1: 1900.00
• S2: 1887.77
• S3: 1883.30

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast