XAUUSD Under Pressure Trying to Break Support Area
Analysis of XAUUSD – The strengthening of US bond yields is affecting the movement of XAUUSD. XAUUSD has once again declined, testing the support area of 1861.79 – 1856.72.
Today’s Trading Strategy:
There is a potential SELL opportunity for XAUUSD today if it breaks below the 1861.79 – 1856.72 area, with the potential to decline towards the 1836.00 – 1824.58 area.
Alternative Scenario:
A breakthrough above the resistance area of 1879.91 – 1883.36 has the potential to push XAUUSD up towards the 1899.02 – 1905.28 area.
Resistance Levels:
- R1: 1883.36
- R2: 1905.28
- R3: 1929.54
Support Levels:
- S1: 1856.72
- S2: 1824.58
- S3: 1816.20
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