XAUUSD Technical Analysis 16.08.2023 1h chart

– Previous Daily candle closed Bearish at 1901.800 closing just within the Strong Key Level (1900s).
– Buys on close above 1907.800 targeting 4h Resistance formed at 1912.100, Leaving Runners to the Weekly previous Support formed on 3rd July 2023 at 1919.500.
– Sells on close below 1899.800 targeting 4h Support formed on 29th June 2023 at 1895.500, Leaving Runners to the 4h Support formed at 1887.900.
– High impact news ahead of the New York session starting with Building Permits and Industrial Production m/m, followed by FOMC Meeting Minutes.