Looking at AU chart for the past week price broke the Mayor Level ( 0.62500 ) where after the break, price gave us a nice Key Level that price rejected after attempting to go lower, meanwhile rejecting the Key Level price started to make Higher Lows and Broke Structure to the upside, Currently price is retracing giving us a nice FIB to look for an entry and the 27ext. lines up with the weekly high ( 0.64000 ). I do believe price is either gonna retest the demand zone ( 0.62750 ) where price confirmed the reversal to the upside or price is gonna start pushing at the 0.63000 level because i can see price is exhausting and wanting to start pushing up.
Note
I anticipate AU is gonna head to the retest the weekly high based on Market Structure, sentiment and Fundamentals overall but I'm aware the DXY is looking for a retracement and potentially a continuation to the downside. Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.