XAU/USD is "climbing" around $2618.820, with two solid "fortresses" of support at $2585.661 and $2557.787, guarded by EMA 34 and EMA 89.
The biggest challenge is the strong resistance at $2631.780 – if broken, the upward momentum could push prices even higher.
RSI at 65.55, near the overbought zone, signals a possible upcoming correction.
If the price "stumbles" at resistance, a pullback to support is highly likely.
The USD is struggling due to increased risk appetite and dovish expectations from the Fed. Traders are awaiting PMI data from Europe and the US for new signals.
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