XAU/USD Analysis
Current Price: 2,670.41, moving upward after breaking the descending channel.
Resistance: 2,706.86 – Key level to watch. Breakout targets higher levels, while rejection may lead to a pullback.
Support: 2,622.78 – Strong demand zone for potential bullish rebound.
Strategy:
Buy on breakout above 2,706.86 or bounce near 2,622.78.
Sell if rejection occurs at resistance.
Resistance: 2,706.86 – Key level to watch. Breakout targets higher levels, while rejection may lead to a pullback.
Support: 2,622.78 – Strong demand zone for potential bullish rebound.
Strategy:
Buy on breakout above 2,706.86 or bounce near 2,622.78.
Sell if rejection occurs at resistance.
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