XAU/USD: Ready for a Breakout or Awaiting a Pullback?
Updated
The XAU/USD chart is revealing a dramatic story. Gold prices are currently fluctuating around $2,669.635 after touching a strong resistance at $2,685.180.
The bulls are defending the critical support level at $2,649.955, with two solid defensive shields — the EMA 34 and EMA 89 positioned at $2,639.497 and $2,594.206 — keeping the upward momentum intact for gold.
However, the real challenge lies at the $2,685.180 resistance level. Should the price break through, the door will open to new highs, with the next target set at $2,699.470 — a crucial resistance zone.
As waves of economic news from the U.S. and key statements from the Fed roll in, this is the moment for savvy and alert traders to take action.
The bulls are defending the critical support level at $2,649.955, with two solid defensive shields — the EMA 34 and EMA 89 positioned at $2,639.497 and $2,594.206 — keeping the upward momentum intact for gold.
However, the real challenge lies at the $2,685.180 resistance level. Should the price break through, the door will open to new highs, with the next target set at $2,699.470 — a crucial resistance zone.
As waves of economic news from the U.S. and key statements from the Fed roll in, this is the moment for savvy and alert traders to take action.
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