XAU/USD: Break Through $2,680 or Correct to $2,650?
Two key levels are driving the market: a strong support at $2,650.230 and a solid resistance at $2,680.131.
The shields from the EMA 34 at $2,659 and EMA 89 at $2,630.839 are playing a critical role in maintaining gold’s upward momentum, preventing deeper declines.
However, traders are closely watching whether the price can break above the $2,680 resistance. If not, a downward correction might push the price back to the support zone at $2,650.
Meanwhile, with the RSI at 49.90, there is a balance between buying and selling pressure, signaling that the market is at a crucial turning point.
Upcoming U.S. economic news and Fed actions are expected to be the main catalysts that could change the entire game.
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