XAUUSD Forex Analysis for Today – Wednesday (20-09-2023)
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XAUUSD Consolidation, Watch Support and Resistance
Analysis of XAUUSD – Caution ahead of the Fed’s influence on XAUUSD movements. XAUUSD is currently in a consolidation phase.
Today’s Trading Strategy:
There is a potential opportunity to Buy XAUUSD today if it breaks above the range of 1936.16 – 1939.32, with the potential for an increase to the range of 1951.32 – 1955.51.
Alternative:
If there is a breakthrough below the support area of 1931.25 – 1929.13, it may push XAUUSD down to the range of 1903.19 – 1899.74.
Resistance Levels:
- R1: 1939.32
- R2: 1955.51
- R3: 1982.22
Support Levels:
- S1: 1929.13
- S2: 1899.74
- S3: 1887.77
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