XAU/USD: Climbing Ahead of Psychological Resistance at $2661
XAU/USD is climbing strongly, holding steady at $2619 with support from EMA 34 and EMA 89.
The biggest challenge lies at the psychological resistance of $2661.470 – if broken, the next target could reach $2683.706.
Traders can buy if the price breaks resistance or sell if it pulls back to support.
Currently, the USD is struggling due to increased risk appetite and dovish expectations from the Fed. Traders are awaiting PMI data from both Europe and the US for new direction.
The biggest challenge lies at the psychological resistance of $2661.470 – if broken, the next target could reach $2683.706.
Traders can buy if the price breaks resistance or sell if it pulls back to support.
Currently, the USD is struggling due to increased risk appetite and dovish expectations from the Fed. Traders are awaiting PMI data from both Europe and the US for new direction.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.