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XAU/USD Revealed Resistance Area

Yesterday, the XAU/USD exchange rate tested the resistance area at 1,785.00/1,790.00. During Tuesday morning, the rate was testing the support formed by the 55– and 100-hour SMAs near 1,777.00.

If the given support holds, it is likely that a reversal south could occur, and yellow metal could re-test the predetermined resistance area.

Meanwhile, it is unlikely that some downside potential could prevail in the market, as the rate could gain support from the 200-hour SMA near 1,773.00.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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