FX.co ★ XAUUSD, H4 | Bounce off support level?

The XAU/USD chart displays a bullish momentum, indicating an upward trend. A potential scenario envisions a bullish bounce off the 1st support at 1896.25, driving the price towards the 1st resistance at 1912.46, an overlap resistance. The intermediate support at 1901.70 reinforces the support structure. On the other side, the 2nd resistance at 1931.14 acts as a significant barrier. Notably, the Relative Strength Index (RSI) sits on a major support, hinting at a potential price rebound.