PA on XAUUSD
For the upcoming week, the key resistance and support levels for XAU/USD (gold) are as follows:
Resistance Levels:
1. $2,668 to $2,674: This zone represents immediate resistance, and a sustained move above this could signal further upside potential .
2. $2,680: If gold breaks through the initial resistance, this is the next key level to watch .
Support Levels:
1. $2,654: This is a critical support level. Gold has been hovering around this area recently, and any break below could signal a bearish move .
2. $2,640 to $2,648: These lower levels provide further support, with $2,642 being the 200-day EMA, which could serve as a strong base if prices decline .
These levels will be influenced by movements in the US dollar and market reactions to any economic or geopolitical developments.
Resistance Levels:
1. $2,668 to $2,674: This zone represents immediate resistance, and a sustained move above this could signal further upside potential .
2. $2,680: If gold breaks through the initial resistance, this is the next key level to watch .
Support Levels:
1. $2,654: This is a critical support level. Gold has been hovering around this area recently, and any break below could signal a bearish move .
2. $2,640 to $2,648: These lower levels provide further support, with $2,642 being the 200-day EMA, which could serve as a strong base if prices decline .
These levels will be influenced by movements in the US dollar and market reactions to any economic or geopolitical developments.
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