XAUUSD Technical Analysis 16.01.2023 1h chart

– Previous Weekly candle closed Strong Bullish at 1820.400 tapping into the previous Weekly Support formed in March, Weekly also broke through Weekly Resistance formed on 13th June 2022 at 1871.500.
– Buys on close above 1992.100 targeting 4h previous Support formed on 8th April 2022 at 1928.200, Leaving Runners to the 1h Resistance at 1933.000.
– Sells on close below 1912.000 targeting 1h previous Resistance formed at 1906.500, Leaving Runners to the 4h Support at 1900.000.
– USD Bank Holiday in observance of Martin Luther King Jr Day, bank holidays can lead to a decrease in trading activity and volume in the markets.