Technical analysis
The Ichimoku indicator gives a possible bearish signal
The RSI is under line 50, indicating that a downtrend may prevail, and the MACD states the same.
What the possible outcomes are
In our most likely scenario, XAUUSD may experience a downward correction towards the first support level of 1,797.
If the pair falls below the first support level, we can expect a continued downtrend towards the second support level of 1,792.
Contrarily, the pair may initially rise towards the first resistance level of 1,806.
If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 1,814.
Key levels
Support 1,792 1,797 1,802
Resistance 1,806 1,814 1,819 1,825
