XAU/USD Tests Monthly R1

<p>Yesterday, the XAU/USD exchange rate touched the 1,665.00 level. During Wednesday morning, the rate was testing the resistance level—the monthly R1 at 1,704.29. If the given resistance holds, it is likely that a reversal south could occur in the nearest future. In this case the rate could gain support from the 55-hour SMA near 1,687.00. […]</p>
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