Gold prices rallied early yesterday but retreated after strong US data lifted treasury yields higher.
XAUUSD rebounded from the channel's lower bound and support at 2625.
The price closed above both EMAs and formed higher swings within the channel indicating an upside potential.
if XAUUSD extends gains, the price could rise to the channel's upper bound at 2680.
Conversely, a break below 2625 could prompt a decline to the next support at 2600.
XAUUSD rebounded from the channel's lower bound and support at 2625.
The price closed above both EMAs and formed higher swings within the channel indicating an upside potential.
if XAUUSD extends gains, the price could rise to the channel's upper bound at 2680.
Conversely, a break below 2625 could prompt a decline to the next support at 2600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.