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TECHNICAL ANALYSIS OF XAUUSD  (GOLD) 27 JAN 2023

TECHNICAL ANALYSIS OF XAUUSD  (GOLD) 27 JAN 2023

Jan 27, 2023 Uncategorized by Henry

XAUUSD (GOLD) price is not able to break its major resistance level of $1949 it was the highest level in nine months on Thursday. Now it is trading near to its support zone of $1920 if it holds below this mark then we can see down side movement towards next support level of $1910 and $1900. With, the 14-day Relative Strength Index (RSI), however, in the positive territory above the midline, Gold price still remains a good buying opportunity on pullbacks. On the upside, powerful resistance near the $1,950 psychological barrier remains a tough nut to crack for Gold bulls. Ahead of that, Gold price needs to find acceptance back above the $1,940 round figure.