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XAUUSD Holds Steady Near Resistance

Posted On 09 Apr 2020
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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.

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.

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