[XAU/USD]

With both EMAs forming a Golden Cross, although the RSI is still in the Neutral-Bearish level, it seems that the strengthening momentum continues to dominate in XAU/USD.

Key Levels:

1. Resistance. 2 : 4175.64

2. Resistance. 1 : 4150.99

3. Pivot : 4123.81

4. Support. 1 : 4099.16

5. Support. 2 : 4071.98

Tactical Scenario:

Positive Reaction Zone: If the price of XAU/USD breaks above 4123.81, there is potential to continue to 4150.99.

Momentum Extension Bias: If 4150.99 is breached and closed above, XAU/USD will continue strengthening up to 4175.64.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of Gold declines and breaks below 4071.98.

Technical Summary:

EMA(50) : 4119.78

EMA(200): 4070.80

RSI(14) : 32.39

Economic News Release Agenda:

Today, there are no economic data releases from the U.S. market session.