XAUUSD Holds Steady Near Resistance

Gold prices are trading steadily near the resistance level of 1655.

At the time of writing, gold is trading near the minor trend line.

To confirm the downside, a breakout from this level is required.

The lower support at 1594 – 1600 looks like the most likely target if prices breakdown lower.

In the event of a breakout above 1655, gold prices could rise toward the 1700 level.

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“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.

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