The trend has been bearish
on the XAUUSD
since the 28th of October. The Commodity is currently hanging on its 3 months support level
, a level it has breached several times during the past two sessions. The XAUUSD
will head towards 1062.95, with 1074.34 as a primary objective, should it breakout 1079.58.
will head back to 1094.06, with 1103.82 as an objective, should it breakout 1088.56.
The daily Pivot Point
1083.85. The daily support levels are around 1079.14 and 1074.81. The daily resistance levels are around 1088.18 and 1092.89.