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- Gold Tests MA 200 H1 Resistance
Gold Tests MA 200 H1 Resistance
Yesterday, the XAU/USD traded higher and closed the day in positive territory near the price of $1881. Today, gold also rose slightly, rising to $1903. On the hourly chart, XAU/USD is testing resistance - the moving average line MA (200) H1 ($1891). On the four-hour chart, gold is still below the MA 200 H4 line. 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 entry points to sell at the end of the correction.
Resistances levels are at: $1919, $1946, $1955-58
Support levels are at: $1881, $1861, $1844-50
Probably, the main scenario is the continuation of the downward movement to $1881 (session low).
Alternative scenario is consolidation above MA 200 H1 followed by a rise to $1958 (Apr 20 high).
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