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Back Technical analysis
XAU/USD Price Analysis and Forecast: Gold Remains Vulnerable to Further Decline
Gold (XAU/USD) continues to post solid
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Gold (XAU/USD) continues to post solid intraday losses, retreating from the $4,600 level.From a technical perspective, XAU/USD maintains a short-term downward trend, trading within a descending parallel channel and below both the 20-day and 50-day Simple Moving Averages (SMAs). The moderately negative MACD histogram, combined with a Relative Strength Index (RSI) reading below 50, at around 44, suggests that the sell-off may continue amid weakening momentum.Last week, the instrument showed resilience near the key 200-day SMA, which continues to support
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Irina Yanina,
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