XAU/USD Technical Analysis 21.03.2024

XAU is currently trading at $2208 with a 1% increase. Overnight, it reached $2222.90, setting a new all-time high (ATH). Following Powell's statements and the decision to keep interest rates stable, it experienced a significant uptrend. The initial support level is seen at $2189, with a major support level at $2160. If the price continues to rise, we may see further increases towards the $2250 level. In a scenario where $2160 weakens as support, a decline down to $2090 could occur.