XAUUSD holds onto support

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Gold prices are down close to 1% on Tuesday. But price action is showing signs of slight recovery near the support area of 1671.95.

A rebound off this level could see gold prices testing the upper end of the range at 1712.50.

As long as this resistance holds, we could expect to see further declines on a close below 1671.95.

Alternatively, a move above 1712.50 will see a possible rally resuming again.



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