XAUUSD

XAUUSD - In the medium-term gold pricing, the breach of the upward trend has led to intensified selling, yet the long-term outlook remains positive. The selling activity can be attributed to the sharp increase in the Dollar Index. If a daily close occurs above the 2763.20 level, we may observe a resurgence in upward movements. Conversely, if this does not happen, there could be pullbacks towards the long-term upward channel support level at 2602. However, the underlying data does not support these pullbacks, suggesting they can be viewed merely as corrections.