Technical analysis

11 June 2021

13:53 Gold is trading above MA 200 H1 again

Yesterday, the XAU/USD was trading higher and closed the day in positive territory around the $1900. Today gold was trading in a narrow range of $1897-00, staying close to yesterday's closing price. On the hourly chart, XAU/USD is trading above the moving average MA line (200) H1 ($1893). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the XAU/USD remains above MA 200 H1, it may be necessary to look for buy entry points for the formation of a correction.

  • Resistances levels are at: $1903, $1916, $2000

  • Support levels are at: $1884, $1869, $1855

Probably, the main scenario is the continuation of the upward movement to $1903 (Jun 8 high). An alternative scenario is consolidation below the MA 200 H1, followed by a decline to $1855 (Jun 4 low).

11 June 2021, 14:18

AUD/USD remains above MA 200 H1

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