XAUUSD Sharp Increase, Heading Towards $2000

Analysis of XAUUSD – XAUUSD is experiencing a rally amid the weakening of the US dollar; the current price is attempting to breach the resistance level.

Today’s Trading Strategy:

Consider BUYING XAUUSD today if it breaks above the range of 1967.60 – 1973.04, with the potential to rise towards the range of 1986.34 – 1992.71.

Alternatives:

If the resistance area of 1967.60 – 1973.04 fails to be breached, it might push XAUUSD down towards the range of 1945.39 – 1942.45.

Resistance Levels:

• R1: 1973.04
• R2: 1992.71
• R3: 2011.11

Support Levels:

• S1: 1942.45
• S2: 1927.06
• S3: 1911.06