Yesterday, the XAU/USD traded higher and closed the day in the positive territory near the price of $1937. Today gold, on the contrary, fell slightly, dropping to $1927. On the hourly chart, XAU/USD is still trading above the MA line (200) H1 ($1917). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as gold remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.
Resistances levels are at: $1942, $1955, $1981
Support levels are at: $1917, $1911, $1906
Probably, the main scenario is the continuation of the upward movement to $1942 (Jan 24 high).
The alternative scenario is a break of the MA 200 H1 level, followed by a fall to $1867 (Jan 11 low).
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