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XAU/USD intraday outlook

Pair is just supported below major resistance level at $1122 level. It is currently trading at $1120 levels and made intraday low at $1118 levels. Downside correction is expected below $1122 levels. If pair holds and sta…

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XAU/USD intraday outlook
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Pair is just supported below major resistance level at $1122 level.

  • It is currently trading at $1120 levels and made intraday low at $1118 levels.
     
  • Downside correction is expected below $1122 levels.
     
  • If pair holds and stabilizes above $1122 levels then next expected level will be $1127, $1132 and $1152 thereafter.
     
  • Alternatively reversal from this level may take the parity again below $1110.
     
  • Important support levels are seen at $1117, $1112 and $1108.

 

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