XAU/USD – Rise to 3,400 Followed by a Pullback

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Hello everyone, on the H1 chart, gold has resumed its upward movement after bouncing from the 3,375–3,380 USD support zone. However, the 3,400 USD area is acting as a strong resistance level and is unlikely to be broken immediately. It is highly probable that the price will test 3,400 before facing selling pressure, leading to a correction back towards the 3,375 USD zone to retest demand strength.

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