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XAUUSD Intraday Analysis

XAUUSD (1188.70): Gold prices managed to rebound after falling to the support level of 1183.30. However, the resistance level at 1197.50 remains a key level to breach. We expect gold prices to maintain a range within the said levels with a breakout from this level suggesting the near term direction in prices. The bias remains flat for the moment but the risk of a downside breakout is rising.

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