XAUUSD is in a sharp downtrend and has started a correction phase and bouncing between SR levels.
As you see in the chart, there is a resistance zone around 1812-1815, which has pushed the price to the downside and price failed to close above this level.
Moreover, price has made a lower high after being rejected by the resistance zone.
On the other hand, there is a support zone around 1780, which has been retested by price for several times.
If price breaks the support zone and closes a bearish confirmation candle below this area, we can expect more drop for XAUUSD to 1771, and 1761
As you see in the chart, there is a resistance zone around 1812-1815, which has pushed the price to the downside and price failed to close above this level.
Moreover, price has made a lower high after being rejected by the resistance zone.
On the other hand, there is a support zone around 1780, which has been retested by price for several times.
If price breaks the support zone and closes a bearish confirmation candle below this area, we can expect more drop for XAUUSD to 1771, and 1761
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