XAUUSD holds steady ahead of a breakout

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Gold prices are trading modestly flat with the bias staying mixed at the moment.

Price action is caught between the resistance and support levels of 1712.50 and 1691.75.

A breakout from this range could see a short term direction forming.

So far, price action has been forming a lower high which suggests a possible move lower.

But, gold prices need to close below the previous local lows of 1671.95 to confirm the downside bias.

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