XAU/USD Hits Resistance, High Risk of Correction
Zaktualizowano
XAU/USD is showing a tense technical outlook as gold prices fluctuate around $2,614.835, just above the key support level at $2,603.667.
Currently, the price is facing strong resistance at $2,650.862. If it fails to break through this level, gold is likely to remain under selling pressure and may correct down to lower support levels.
The EMA 34 and EMA 89 are acting as resistance, reinforcing the short-term downtrend. However, if buyers manage to push the price above resistance, we could see a short-term recovery with potential gains to higher levels.
Gold market volatility could be heavily influenced by geopolitical factors and economic news from the U.S.
Currently, the price is facing strong resistance at $2,650.862. If it fails to break through this level, gold is likely to remain under selling pressure and may correct down to lower support levels.
The EMA 34 and EMA 89 are acting as resistance, reinforcing the short-term downtrend. However, if buyers manage to push the price above resistance, we could see a short-term recovery with potential gains to higher levels.
Gold market volatility could be heavily influenced by geopolitical factors and economic news from the U.S.
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