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XAU/USD Price Analysis and Forecast: Gold Market Remains Under Pressure
Gold (XAU/USD) is struggling to build
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Gold (XAU/USD) is struggling to build on its modest rebound after hitting its lowest level since March 30 earlier on Monday.From a technical perspective, the unsuccessful attempt to overcome resistance near the 100-day simple moving average (SMA) last week has strengthened bearish sentiment. A sustained move below the psychological $4,500 level would signal a strengthening downward trend. Additional confirmation of weakening buying interest comes from the Relative Strength Index (RSI), which remains near the 40 mark, and from the negative
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Irina Yanina,
Analytical expert of InstaForex
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Irina Yanina
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