Gold trades below MA 200 H1

On Friday, the XAU/USD traded lower and closed the day in the red zone around $1,825. Today, gold was trading in the narrow range of $1,801-$39, staying close to Friday’s closing price. The XAU/USD hourly chart still holds below the moving average line MA (200) H1 ($1874). According to the four-hour chart, the situation is similar. On the basis of the above, it is probably worth sticking to the south direction in trading and as long as the pair remains below MA 200 H1, it is necessary to look for entry points for sale to create a correction.  Resistances are at: $1857-64, $1894, $1927 Support Levels are located at: $1801, $1785, $1763 The main scenario of steam promotion is to continue moving down to $1801 (session minimum). The alternative scenario assumes consolidation above is 200 H1, followed by an increase to $1,959 (up to January 6).