XAUUSD Approaches Overhead Resistance
The below is the daily chart of the XAUUSD. Price has pulled back to the 38.2% retracement level of the previous impulse move down. This level coincides with a support turned resistance area (green shaded horizontal). The RSI(9) is under 50 which is on the bearish side of the indicator. We are now assessing if selling activity will increase. As such we continue to monitor.
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