XAUUSD Is Possibly Bullish

Technical analysis

The price lies in between the EMA(50) and the EMA (100), closer to the latter

The MACD indicator line is above 0, pointing down

The RSI is above 50.

What the possible outcomes are

The U.S. dollar edged lower by early Monday. In the absence of any significant news, the technical indicators may push XAUUSD higher today.

If the price passes the initial resistance level of 1,783.02, it could test the next higher at 1,797.83.

Alternatively, if the price reverses, then it could reach the first support level of 1,764.68.

A pass below the first level can move the price up lower toward 1,756.63.

Key levels

Support 1,764.68 1,756.63

Resistance 1,783.02 1,797.83

August 16, 2021 at 11:05PM
OctaFX
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