XAUUSD Awaits Break of $2,530 Resistance Under CPI Pressure

6 days agoXAUUSD is in a mild uptrend, trading around $2,517 with a key resistance level at $2,530.

If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level.

The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume.

U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.