XAUUSD Range to Offer Breakout Opportunity

From dailypriceaction.com

After sliding lower from a multi-year high of 1764 on May 18th, XAUUSD (gold) is holding its ground relatively well. The 1680 area is keeping the metal afloat, at least for now. Pullbacks like this are to be expected, especially after rallying for two months straight. If 1680 is all we see from gold sellers, I would even argue that this $80 pullback is shallower than expected given the recent $300 rally. Regardless of what happens here, though, I still like XAUUSD higher in the long run. That doesn’t mean that 1680 support won’t fail, but I would look to the 1630/40 area for a buying opportunity even if it does. ... (full story)