XAU/USD: Break Resistance at $2,680 or Correct to $2,645?
Updated
The analysis of the XAU/USD chart shows that gold is currently priced at $2,658.550, with strong support at $2,645.331. From the chart, it is clear that the upward trend is still being maintained, thanks to the support of the EMA 34 and EMA 89 levels at $2,658 and $2,633.502, respectively.
The key resistance at $2,680.809 is the barrier that the price needs to break through if it is to continue reaching higher levels, with the next target at $2,697.070.
However, if the price fails to maintain its upward momentum and drops below the $2,645.331 support level, a deeper correction may occur.
In the current market context, important economic news from the U.S. and statements from Fed officials will be key factors that could significantly impact gold price movements in the coming days.
The key resistance at $2,680.809 is the barrier that the price needs to break through if it is to continue reaching higher levels, with the next target at $2,697.070.
However, if the price fails to maintain its upward momentum and drops below the $2,645.331 support level, a deeper correction may occur.
In the current market context, important economic news from the U.S. and statements from Fed officials will be key factors that could significantly impact gold price movements in the coming days.
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