XAUUSD Remains Range-Bound

Gold prices are showing signs of stabilizing. Price action is caught within the price corridor of 1534 and 1462.

However, given the strong support area, it will take some strong fundamentals to push the precious metal lower.

The longer-term downside target is around the 1440 handle.

For the moment, the evolving price action indicates a possible bottoming in the near term. But this will be valid only on a close above 1534.

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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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