Gold Price remains well beneath the jungle of resistances surrounding $1,940-60, which in turn joins a comparative space towards the south before hitting $1,915 support to lure the XAU/USD sellers.
That said, Fibonacci 61.8% on one-month, around $1,935 by the press time, acts as the last defense of the Gold buyers, a break of which could quickly drag the quote toward $1,915 support confluence encompassing Pivot Point one-month S1 and one-day S2.
It’s worth noting that the Gold Price weakness past $1,915 will make it vulnerable to testing the $1,900 threshold.
Alternatively, Fibonacci 23.6% on one-day and 38.2% on one-week restricts the immediate upside of the Gold Price near $1,940.
Following that, the previous daily high and the upper band of the Bollinger on the hours chart could test the XAU/USD run-up near $1,948.
In a case where the Gold Price remains firmer past $1,948, the 10-DMA level of around $1,952 can check the metal’s further upside.
Above all, the middle band of Bollinger on one-day, Fibonacci 61.8% on one-week and 38.2% on one-month appear a tough nut to crack for the Gold buyers near $1,955.
In a case where the XAU/USD remains bullish past $1,955, the $1,960 resistance encompassing Pivot Point one-day R2 will act as the final defense of the bears.