XAUUSD - Watching 2320 as a Key Pivot
Been closely watching $XAUUSD for a while, particularly around the 2320 level. It's acted as a pretty significant pivot lately, both support and resistance depending on the day. Today's price action, especially with $USDX hovering around 25.5309, hasn't given a clear directional bias yet, but that 2320 zone is critical for me. If we get a sustained break and hold above it, say on a daily close, I'd lean towards some bullish continuation. Conversely, a rejection there, especially on higher volume, could easily see a retest of lower support, maybe towards the 2300 handle or even lower. My invalidation for a move higher would simply be a failure to hold above 2320 after an initial push. It's a key spot on my charts, nothing more, nothing less.
Yeah, I'm with you on 2320 for XAUUSD. It's been a real battleground. What's your next level up if it does hold above, say on a 4-hour close?