August 16, 2023 BY Elizabeth Anderson
Market analysis: XAU/USD shaking hands with key Support
The weekly timeframe shows price action recently dropped in on support from $1,898, a level sharing chart space closely with a descending resistance-turned-support level taken from the high of $2,070. Adding weight to this support is the daily timeframe’s 200-day simple moving average at $1,902. This dynamic value, alongside being used for trend identification (it…
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