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- XAU/USD remains higher МА (200) Н1
XAU/USD remains higher МА (200) Н1
On Friday, the XAU/USD pair traded in different directions in the range of 2790-2818, reaching a record high, but closed the session near the price of 2800. Today, gold started trading mainly with a decrease from 2804 to 2772. On the hourly chart, XAU/USD remains above the MA (200) H1 (2765) moving average line and above MA (200) H4 (2683) on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and as long as gold remains above the MA 200 H1, it is necessary to look for entry points to buy.
Resistance levels are at: 2800, 2818, 2900
Support levels are at: 2772, 2744, 2730
The main scenario for the pair's advance assumes a breakout of the resistance at 2800 (Jan 30 high) and there may be an increase to 2818 (Jan 31 high)
An alternative scenario implies a breakout of the session low of 2772 and there may be a decline to 2744 (Jan 29 low).
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