Technical analysis
The EMA(50) and EMA(100) tend to cross, which may be suitable for opening trades
The EMA(50) lies higher than the EMA (100), which is favourable for bulls
The MACD indicator is above 0 and shows a flat market situation
The RSI is above 50.
What the possible outcomes are
XAUUSD rose from the monthly lows of 1,750, despite the strong U.S. dollar. The pair trades now at 1,775. Although, its next direction will depend on the U.S. NFP report due tomorrow. However, the current technical indicators refer to a possible uptrend potential.
If the price passes the initial resistance level of 1,777.70, it could test the next one at 1,788.02.
Alternatively, if the price reverses, then it could reach the first support level of 1,765.90. A pass below the first level can move bears lower toward 1,756.42.
Key levels
Support 1,777.70 1,788.02
Resistance 1,765.90 1,756.42
