XAUUSD fails to rise above the 1724 resistance level

0 70

Gold prices made some modest gains but the rally was capped near the 1724 handle.

As expected, price action quickly reversed after a brief test to this level.

If the declines continue, we expect XAUUSD to pull back to the 1700 level.

While there is still scope for a move back to the 1724 level, only a close below 1700 will be convincing enough for a correction.

In the near term, gold prices could continue to trade mixed.

The longer-term range remains steady within the price levels of 1747 and 1671.

Test your strategy on how gold will fare with Orbex - Open your account now. 


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.