XAUUSD Forex Analysis for Today – Tuesday (12-09-2023)
XAUUSD Still Trapped in Support Resistance Area
Analysis for XAUUSD – The absence of significant news is influencing the movement of XAUUSD. XAUUSD is consolidating in the support area of 1917.61 – 1912.01 and the resistance area of 1928.08 – 1931.39.
Today’s Trading Strategy:
There is a potential to Sell XAUUSD today if it breaks below the range of 1917.61 – 1912.01, with the potential to decrease towards the area of 1905.58 – 1900.00.
Alternative:
A breakthrough above the resistance area of 1928.08 – 1931.39 could potentially push XAUUSD to rise towards the area of 1945.16 – 1946.66.
Resistance Levels:
- R1: 1930.50
- R2: 1946.66
- R3: 1955.51
Support Levels:
- S1: 1912.01
- S2: 1900.00
- S3: 1888.70
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