XAU/USD is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If XAU/USD continues in its current trajectory, we could see it reach 1716.8420 within the next 2 days. Supported by Downward sloping Moving Average
Chart 4 hour
Pattern Falling Wedge
Length 35 Candles
Identified 30-Aug-2022 08:00 UTC