Yesterday the XAU/USD traded in different directions in the range of $1890-$1908 and closed the day without significant changes. Gold traded in a narrow range of $1904-10 today, staying close to yesterday's closing price. On the hourly chart, XAU/USD is still trading above the moving average MA (200) H1 ($1903). On the four-hour chart, gold remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the XAU/USD remains above MA 200 H1, it may be necessary to look for buy entry points to form a correction.
Resistances levels are at: $1912, $1923, $1931-33
Support levels are at: $1882, $1873, $1865
Probably, the main scenario - is the continuation of the upward movement to $1912 (Oct 14 high). An alternative scenario - may be consolidation below MA 200 H1 with a subsequent decline to $1873 (Oct 7 low).
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