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- Gold Price Forecast: XAUUSD set to test the $1,836/26 support zone – Credit Suisse
Gold Price Forecast: XAUUSD set to test the $1,836/26 support zone – Credit Suisse
Gold has broken price support at $1,877. XAUUSD is seen at risk to a test of support from its nine-month uptrend and 200-day moving average (DMA) at $1,836/26, economists at Credit Suisse report.
Move above $1,998 is needed to reassert an upward bias
“We look for a fall back to the uptrend from last August and 200-DMA at $1,836/26, but with fresh buyers expected here.”
“A weekly close below $1,826 though would warn of a retest of pivotal long-term support at $1,691/77.”
“Above $1,998 is needed to reassert an upward bias for a retest of the $2,070/75 record highs.”
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