Technical analysis
The EMA(50) and the EMA(100) cross, which is favourable for opening an order
The EMA(50) is above the EMA(100), which is beneficial for bulls
The MACD indicator is above 0 and pointing down
The RSI is slightly below 50.
What the possible outcomes are
The XAUUSD pair recovered modestly from 1,795 and now defends the 1,800 price level. Technical indicators show a possible upward movement, although its potential is limited.
If the price passes the initial resistance level of 1,808.93, it could test the next one higher at 1,825.12.
Alternatively, if the price reverses, then it could reach the first support level of 1,798.82. A pass below the first level can move the price up lower toward 1,791.44.
Key levels
Support 1,798.82 1,791.44
Resistance 1,808.93 1,825.12
