Yesterday, the XAU/USD traded lower and closed the day in the red zone near the price of 1916. Today, gold, on the contrary, rose slightly, rising to the level of 1920. On the hourly chart, XAU/USD is testing the strength of the support - the moving average line MA (200) H1 (1931 ). 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.
Probably, the main scenario is the resumption of the upward movement to $1929 (Sep 6 high).
The alternative scenario is a break of the MA 200 H1 level, followed by a fall to $1903 (Aug 25 low).
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