XAUUSD News

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Last Updated Date: 24 June 2021 @ 6:17 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was down on Thursday morning in Asia as investors await U.S. economic data to gauge inflationary pressures further. A strengthening dollar also put a dent in the yellow metal’s appeal.

The failed test up around the 1797.0 resistance continues a turn back to short term bear trending action. Selloffs after the close has trade poised for a bear day and close under 1766.0 implies a bear wave to 1731.0. Any corrective congestion capped under 1790.0 should bear flag a setup for selloffs. A close over 1797.0 is needed to reject the downturn.
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