XAUUSD H1: The Price Action Forecast for the Asian Session at 16.7.2026

During the previous trading session, the price of XAUUSD decreased, moving in the main trend direction on the higher time-frame.
The support and resistance levels:
The current support level is in the area of the 4017.26 mark.
This level was formed by the Bullish Harami pattern. The pattern is represented with two Japanese candles, where the second one with a smaller real body is inside the body of the first one.
The current resistance level is at the 4080.96 mark.
The level was formed by the Shooting Star pattern. This pattern is a single candlestick which is composed of a small real body and a long upper shadow. This pattern is usually called “Pin Bar” by traders.
Trading recommendations:
The latest pattern formed on the chart prioritizes short positions. This signal is also proved with the price movement dynamics on the higher time-frame.