XAUUSD rises to a four-week high

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Gold prices are holding on to the bullish gains with prices rising sharply to a four-week high.

This comes after the breakout above the previous pivot high of 1630. To the upside, the next main price level is at 1655.

Failure to breakout above this level means we can expect gold to settle within the said levels of 1655 and 1630.

A breakout from this range, we can expect the direction to be maintained. To the downside, the support at 1594 will be the target.

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