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Back Technical analysis
XAU/USD: analysis and outlook. Gold looks vulnerable while trading below $4,580
Early in the European session on
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Early in the European session on Wednesday, XAU/USD is trading under pressure and shows signs of vulnerability near the psychologically important $4,500 level. From a technical standpoint, the metal is exhibiting a moderately bearish short-term bias after a failed attempt to break the horizontal resistance at $4,580 earlier this week. That level now coincides with the 100-period exponential moving average (EMA) on the 4-hour chart and acts as an important barrier. A decisive close above $4,580 is needed to undermine the
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Irina Yanina,
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