XAUUSD
Gold is experiencing positive pricing with strong growth data from China (5.4% - above expectations). The US retail sales data to be released today and Powell's speech may cause an increase in price volatility. Strong retail sales data (expectation: 1.4%) could strengthen expectations for the Fed to delay interest rate cuts and put pressure on gold prices. However, geopolitical tensions and safe-haven demand ahead of tomorrow's ECB meeting are likely to provide upward support for prices. Technically, if the first resistance point at $3,306 is broken in the medium term, an upward movement towards $3,375 may be observed.
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Resistance :