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MMby u/macro_mariamUnited Arab Emirates·2dAnalysis

XAUUSD - Watching that 2300 level again

Been looking at XAUUSD again, and that 2300 level seems to be a real sticky point. We've seen it act as both support and resistance pretty consistently. Right now, it feels like we're consolidating below it, almost coiling up. If we get a sustained break above 2300, particularly on decent volume, I'd lean towards some further upside towards the 2330-2340 area. The risk to that scenario, of course, is a clear rejection here, which could easily see us drift back towards the 2270-2280 range. Just my read, but 2300 is definitely the line in the sand for me this week.

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