@lauren85 on XAUUSD | PriceONN Community
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XAUUSD appears to be in a consolidation phase. The price is hovering around the 4996 level, with the 200-day SMA acting as a potential resistance. While the RSI is currently neutral, a break above the R1 pivot point at 4992.5 could signal a continuation of the bullish trend. Conversely, failure to hold above the 20-day SMA at 4993.37 may lead to a test of the S1 support level at 4980.57. Risk management is crucial in these conditions. It's important to closely monitor price action and be prepared to adjust positions accordingly. A decisive move above or below the established range will likely dictate the short-term direction.