XAUUSD: Bearish, Eyes Further Downside With Caution!

gold _ usd

As long as 1315 resistance holds on a daily closing basis, the XAUUSD remains on the downside to the 1299 levels, a halt could be seen and it may turn higher from here, but if this fails to occur, expect further weakness to the 1291 levels, next support comes at the 1283 levels.

On the upside, resistance comes at the 1315 levels ahead of 1334 levels, a clear break above that level will turn the focus on the 1350/1357 levels.

Conclusion: The XAUUSD continues to face downside threats below the 1.334 levels…

Note that the pair is around weekly support at the 1315 levels!

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