Key levels to watch include the 50% Fibonacci retracement level around $1,836, which might challenge the XAU/USD bulls. Further upside potential lies in the 61.8% Fibonacci ratio around $1,948, although a descending resistance line from July 20 at approximately $1,958 could act as a barrier.
Conversely, a downward break of the 200-day SMA and support zone near $1,933-$1,930 might prompt gold sellers to take control.
Conversely, a downward break of the 200-day SMA and support zone near $1,933-$1,930 might prompt gold sellers to take control.
Success is not final, failure is not fatal... - Winston Churchill
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