Sat, Oct 23, 2021 @ 10:19 GMT
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XAU/USD Meets Tough Resistance

Gold tumbles as the US dollar’s rally gains traction. The precious metal has met solid bids in the demand zone around 1742.

A bullish RSI divergence has indicated that selling pressure may have waned. A close above the immediate resistance at 1767 has attracted some buying interests, though an overbought RSI has checked the upward impetus.

1796 from the previous consolidation remains a key hurdle. Its breach would open the door to the daily resistance at 1830. On the downside 1760 is fresh support.

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