TECHNICAL ANALYSIS OF XAUUSD  (GOLD) 27 JAN 2023

XAUUSD (GOLD) price is not able to break its major resistance level of $1949 it was the highest level in nine months on Thursday. Now it is trading near to its support zone of $1920 if it holds below this mark then we can see down side movement towards next support level of $1910 and $1900. With, the 14-day Relative Strength Index (RSI), however, in the positive territory above the midline, Gold price still remains a good buying opportunity on pullbacks. On the upside, powerful resistance near the $1,950 psychological barrier remains a tough nut to crack for Gold bulls. Ahead of that, Gold price needs to find acceptance back above the $1,940 round figure.