XAUUSD reverses losses. Consolidation likely to continue

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Gold prices are back up, trading close to 0.90% on the day. This marks a reversal of the declines from the previous session.

Price action is trading above the 1691 level for the moment. The trend line will be of interest.

An upside breakout of the trend line could push prices to the 1712.50 level of resistance.

Alternately, a move lower could see gold prices falling to the previous lower support area of 1671.95.

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