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XAU/USD Outlook: September, 4 2013

Published 09/04/2013, 04:28 AM
Updated 02/21/2017, 08:25 AM
XAU/USD

Spot Gold regained strength, as extension of near-term recovery from 1372 low, broke above the 1400 barrier that capped price action during past few sessions. A freshly established positive tone on the lower timeframes studies brings the upside back in focus, as recovery retraced nearly 76.4% of 1433/1372 pullback on rally to $1,416 so far. Corrective easing on overbought hourly studies should ideally be contained at/above 1400, now acting as key near-term support.

Resistance: 1416; 1430; 1433; 1440

Support: 1400; 1392; 1384; 1372


XAUUSD

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