XAUUSD Awaits Break of $2,530 Resistance Under CPI Pressure
XAUUSD is in a mild uptrend, trading around $2,517 with a key resistance level at $2,530.
If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level.
The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume.
U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.
If the price breaks above this level, the uptrend could continue. However, failure to breach it may lead to a correction toward the $2,501 support level.
The EMA 34 and EMA 89 are still supporting the current uptrend, but if the price falls below them, a downtrend might resume.
U.S. economic news, especially the CPI report, will heavily impact gold prices, as a higher-than-expected inflation rate could strengthen the USD, putting downward pressure on XAUUSD.
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