The XAU/USD was trading lower yesterday and closed the day in the red around $1844. Gold has also dropped slightly today, falling to $1828. On the hourly chart, XAU/USD is still trading below the moving average MA (200) H1 ($1894). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the XAU/USD remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.
Resistances levels are at: $1864, $1894, $1927
Support levels are at: $1816, $1807, $1785
Probably, the main scenario - is the continuation of the downward movement to $1816 (Jan 11 low). An alternative scenario - may be implies consolidation above the MA 200 H1 with a subsequent rise to $1859 (Jan 6 high).
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