XAUUSD IDEA
After a busy week, the metal may go into a consolidation phase. In the area of 2714 - 2685, but it is still worth paying attention to resistance and support from which strong moves can be formed
Resistance levels: 2696, 2714, 2720
Support levels: 2685, 2652
Technically, xauusd is in a local descending channel and below 0.5 Fibo. If the bears keep the price below 2696 the price is under control, xauusd may continue to weaken towards 2650 - 2600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.