Gold prices are trading rather flat on the day following last week’s gains.
Price action is trading near the ascending wedge pattern amid some choppy trading.
If XAUUSD fails to breakout above the previous highs of 1643, then we expect a move lower.
The initial support at 1594 will be the initial support of interest.
Test your strategy on how gold will fare with Orbex - Open your account now.
![Credit Card 160×600 [EN]](https://assets.iorbex.com/blog/wp-content/uploads/2023/06/13144507/Blog-Banner_EN-Banner_160X600X2.webp)
