XAUUSD H4 I Reacting off Resistance?

The XAU/USD chart currently shows bearish momentum, suggesting potential further decline towards the 1st support at 1947.23, which aligns with an overlap support. The 2nd support at 1931.57 adds to this bearish outlook as a pullback support.

On the resistance side, the 1st resistance at 1984.47 has historically acted as a strong barrier to upward movement, and the 2nd resistance at 2003.60 could provide additional resistance. An intermediate support level at 1963.24 might offer a temporary pause in the bearish trend

Analysis are provided by InstaForex

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