XAUUSD Strong Recovery, Approaching Resistance at 2,790.537
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On November 23, XAUUSD continues its strong recovery from the support level of 2,557.165, currently trading around 2,716.335, supported by EMA 34 (2,656.463) and EMA 89 (2,583.958).
The price is approaching the critical resistance zone at 2,790.537. If it breaks above this level, the next target will be in the range of 2,850 - 2,900.
Conversely, if the price declines, EMA 34 will serve as a key support level to watch. The current upward momentum is reinforced by safe-haven demand driven by geopolitical tensions and the Fed's decision to maintain interest rates.
Traders should focus on price action around this resistance zone to determine the next direction.
The price is approaching the critical resistance zone at 2,790.537. If it breaks above this level, the next target will be in the range of 2,850 - 2,900.
Conversely, if the price declines, EMA 34 will serve as a key support level to watch. The current upward momentum is reinforced by safe-haven demand driven by geopolitical tensions and the Fed's decision to maintain interest rates.
Traders should focus on price action around this resistance zone to determine the next direction.
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