FX.co ★ XAUUSD, H4 | Bearish Continuation Expected?

The Gold spot price in US Dollars, XAUUSD, is on a bullish trajectory. There's an anticipated upward continuation toward the identified resistance levels. The1st support at 1912.79 combines the weight of an overlap support and the 23.60% Fibonacci Retracement. 2nd support is found at 1901.84, characterized by its dual nature as a multi-swing low support and its alignment with the 50% Fibonacci Retracement. On the other side, the price faces 1st resistance at the 1931.07, enriched by an overlap resistance and the confluence of the 61.80% and 38.20% Fibonacci Retracements. Beyond this, the 1944.27 resistance, another overlap, may further test the bullish momentum.