SimpleFX XAUUSD Chart Analysis: September 17

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The market continues to move under the moving average, which resists the price. If shortly this resistance is broken, and the price rises above the moving average, the bulls will have an opportunity to reach the level of 1510. If the price strike through this level, the movement will be possible in the direction of the upper limit of the red channel and the level of 1545. If bears take control of the price movement soon, and the price does not meet the resistance level, which is formed by the moving average, we will see a decrease to the lower limit of the red channel and the support level of 1480. Then, when the price reaches this level, the bears will have access in the direction of the lower green wall at the point of 1445.

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