XAUUSD: Bearish, Faces Further Downside Pressure.

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As long as 1300 resistance holds on a daily closing basis, the XAUUSD remains on the downside to the 1291 levels, a halt could be seen and it may turn higher from here, but if this fails to occur, expect further weakness to the 1283 levels, next support comes at the 1258 levels.

On the upside, resistance comes at the 1300/1305 levels ahead of 1315 levels, a clear break above that level will turn the focus on the 1334 levels.

Conclusion: The XAUUSD continues to face downside threats below the 1315 levels even in the case of a corrective recovery.

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