XAUUSD - Daily Analysis

As we analysed on the weekly chart, there is still room to go lower before we go higher to fulfil the retracement we’re looking for.
For this reason, on opening we will remain neutral in the markets until we have a confirmed setup on the lower timeframes for a trade.
It wouldn’t surprise us to see a glitch on opening due to the news release, as always it should respect the technical levels.

We have a level on this chart that sticks out which is situated at 1748 and a lower level 1675-1667.

Support:
1675
1664-66
1640

Resistance:
1721
1730
1745-50

Please also have a look at our weekly analysis for a longer-term view.