XAUUSD Faces Resistance: Strong Rally or Correction?
XAUUSD is in an impressive recovery from the strong support level at 2,620 and is now approaching the key resistance level at 2,667. If this level is broken, it could trigger a stronger rally, potentially pushing gold prices above the 2,700 mark.
However, if the price fails to break through this resistance, a correction might occur, pulling the price back to retest the support at 2,620.
The next moves for gold will largely depend on economic news from the U.S., particularly the Federal Reserve’s monetary policies and global geopolitical developments.
These factors will be key in determining the future direction of gold prices.
However, if the price fails to break through this resistance, a correction might occur, pulling the price back to retest the support at 2,620.
The next moves for gold will largely depend on economic news from the U.S., particularly the Federal Reserve’s monetary policies and global geopolitical developments.
These factors will be key in determining the future direction of gold prices.
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