XAU/USD: Break $2,679 or Retrace?
The XAU/USD chart shows gold hovering around $2,649, with key support at $2,623 and $2,649.
The EMA 34 ($2,643.988) and EMA 89 ($2,607.307) provide strong support, maintaining the bullish momentum.
The main focus is on the resistance at $2,679. If the price breaks above this level, the upward trend is likely to continue.
However, if unsuccessful, gold may correct toward lower support levels.
The market is also awaiting key news from the U.S., which could significantly influence gold’s direction in the near future.
The EMA 34 ($2,643.988) and EMA 89 ($2,607.307) provide strong support, maintaining the bullish momentum.
The main focus is on the resistance at $2,679. If the price breaks above this level, the upward trend is likely to continue.
However, if unsuccessful, gold may correct toward lower support levels.
The market is also awaiting key news from the U.S., which could significantly influence gold’s direction in the near future.
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