Gold Spot Tests 0.618 Resistance Arc on 2-Hour Chart
XAU/USD is pressing against the 0.618 resistance arc on the 2-hour chart, with Arc Cycle Analysis pointing to a possible breakout toward the next resistance.
XAUUSD
Gold Spot / U.S. Dollar is pressing against the 0.618 Resistance Arc within the current Arc Cycle on the 2-hour chart, according to Arc Cycle Analysis.
The pair is testing the resistance arc, and the technical setup suggests a potential breakout toward the next resistance level if the area is cleared. The 0.618 arc is being watched as a key hurdle for XAU/USD on this timeframe.
The update does not provide a specific price target or invalidation level. The focus remains on whether gold can sustain a move through the resistance arc.
Source: FXStreet Forex News