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"XAU/USD Awaits Direction: Impact of Today's CPI News on Gold Pr

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This chart shows a technical analysis for XAU/USD (Gold/US Dollar) within an ascending channel. Key elements include:

1. Trend Channel: The price is moving within an upward-sloping channel, indicating a bullish trend.


2. Support and Resistance:

Support Levels: Around 2,675.63 and 2,664.53, highlighted in blue zones.

Resistance Level: Near 2,719.49 at the channel's upper boundary.



3. Scenario Projections:

Bullish Continuation: Arrows suggest potential upward movement toward 2,719.49 after testing the lower support zone.

Pullback Possibility: A dip to the support zone near 2,664.53 is possible before resuming the upward trend.



4. Economic Events: The dotted vertical lines mark upcoming economic events that might impact price movement.



This analysis implies a buy-on-dip strategy, focusing on the support areas for potential long entries while monitoring the channel for breakout opportunities.
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