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.