FX.co ★ XAUUSD , H4 | Rallying to resistance?

The XAU/USD chart is bearish with a downward trend. The price is below a descending trend line, indicating bearish momentum. There is a possibility of a temporary price increase before a reversal towards the first support level. The supports at 1937.01 and 1912.92 attracted buying interest. The first resistance at 1965.15 is significant, coinciding with the 61.80% Fibonacci retracement level. The second resistance at 1981.70 confirms its relevance.