XAUUSD Forex Analysis for Today, Tuesday (07-11-2023)

XAUUSD Under Pressure, Pay Attention to Support Area

XAUUSD analysis: The increase in bond yields has an impact on XAUUSD, where XAUUSD is decreasing towards the support area.

Today’s Trading Strategy:

There is a potential opportunity to BUY XAUUSD today as long as it doesn’t break below the range of 1967.27 – 1960.82, with the potential to rise towards the range of 1988.55 – 1992.28.

Alternative Scenario:

If the support area of 1967.27 – 1960.82 is breached, it may push XAUUSD down to the range of 1956.13 – 1951.87.

Resistance Levels

• R1: 1992.28
• R2: 2011.06
• R3: 2026.23

Support Levels

• S1: 1960.82
• S2: 1951.87
• S3: 1944.51

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