XAUUSD Forex Analysis for Today, Wednesday (25-10-2023)
XAUUSD Rebounds After Brief Bearish Pressure
XAUUSD Analysis – The strength of the US dollar is impacting the movement of XAUUSD, where XAUUSD briefly faced pressure but failed to break below the support area.
Today’s Trading Strategy:
There is a potential to BUY XAUUSD today as long as it doesn’t break below the 1946.64 – 1941.56 area, with the potential to rise to the 1978.93 – 1983.58 area.
Alternative:
If the support area of 1946.64 – 1941.56 is breached, it could potentially push XAUUSD down to the 1913.81 – 1911.51 area.
Resistance
- R1 1983.58
- R2 1998.77
- R3 2010.44
Support
- S1 1941.56
- S2 1911.51
- S3 1899.88
