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Gold managed to rise barely above the 200-day SMA regardless of Thursday’s sharp decline. Whereas above right here, XAU/USD retains a bullish bias, FXStreet’s Eren Sengezer reviews
The $1,780/$1,775 space aligns as preliminary help
“In case XAU/USD stabilizes above $1,790 (200-day SMA) and confirms that stage as help, it may take a look at $1,800 within the brief time period earlier than concentrating on $1,830 (Fibonacci 50% retracement of the long-term downtrend) and $1,860 (static stage).”
“On the draw back, $1,780/$1,775 space (Fibonacci 38.2% retracement, 20-day SMA) aligns as preliminary help earlier than $1,740 (static stage) and $1,720 (100-day SMA, 50-day SMA).”
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