XAU/USD: Tension Mounts at Resistance $2,668.531
The XAU/USD chart reveals growing tension as gold prices fluctuate around $2,653.840. This is a crucial phase as prices approach the strong resistance zone at $2,668.531.
Failure to break this resistance could lead to a significant downward correction, pushing prices towards the support level at $2,635.797.
Both the EMA 34 and EMA 89 are providing strong support, indicating that the upward trend still has potential to hold.
However, the RSI is currently neutral, offering no clear signals about the next move.
This is a pivotal moment for investors, with key upcoming U.S. economic data, particularly the Non-Farm Payroll report, which could be the decisive factor shaping the next direction of the gold market.
Failure to break this resistance could lead to a significant downward correction, pushing prices towards the support level at $2,635.797.
Both the EMA 34 and EMA 89 are providing strong support, indicating that the upward trend still has potential to hold.
However, the RSI is currently neutral, offering no clear signals about the next move.
This is a pivotal moment for investors, with key upcoming U.S. economic data, particularly the Non-Farm Payroll report, which could be the decisive factor shaping the next direction of the gold market.
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