Technical analysis
The Ichimoku indicator gives a possible bullish signal
The RSI is above line 50, indicating that an uptrend may prevail.
The CCI suggests a possible downward correction.
What the possible outcomes are
Gold rose for a fourth day as investors turned to the haven asset amid concerns over the delta coronavirus variant and weaker economic data.
In our most likely scenario, XAUUSD may rise towards the first resistance level of 1,792.
If the pair surpasses the first resistance level, we should expect a continued surge towards the resistance levels of 1,797 and 1,802.
Contrarily, the pair may initially decline towards the first support level of 1,783.
If the pair falls below the first support level, we can expect a continued downtrend towards 1,775 and 1,769.
Key levels
Support 1,769 1,775 1,783
Resistance 1,792 1,797 1,802
