XAU/USD has rebounded strongly from the support of its descending channel, testing the 2640 resistance level once again. Breaking this critical level could allow gold to reach a new all-time high (ATH) and continue its upward trend for a while longer. Especially if it can maintain stability above this resistance zone, gold’s upward movement could gain further momentum.
Resistances: 2690 / 2740 / 2800
Supports: 2625 / 2585 / 2527
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