200-Day MA Proves Hard To Break For XAUUSD

The precious metal is trading right near the 200-day MA for the second day in a row.

However, buyers are rejecting attempts to push the precious metal lower.

Depending on how prices close, we anticipate a rebound on the horizon.

To the upside, the resistance area near 1534 will be coming under first contact.

A breakout above this level will accelerate the gains to the 1569 handle.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

Leave a Reply