HomeContributorsTechnical AnalysisXAU/USD Holds Steady Near Resistance

XAU/USD Holds Steady Near Resistance

Gold prices are trading steadily near the resistance level of 1655.

At the time of writing, gold is trading near the minor trend line.

To confirm the downside, a breakout from this level is required.

The lower support at 1594 – 1600 looks like the most likely target if prices breakdown lower.

In the event of a breakout above 1655, gold prices could rise toward the 1700 level.

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